Mark Zuckerberg loses $16B in one day, Plunges to world’s sixth-richest billionaire

Facebook Founder and CEO, Mark Zuckerberg has lost $16.8 billion of his personal fortune in late trading as Facebook shares slid 20 percent at 5:37 p.m. in New York on Wednesday.

The 34-year-old billionaire, who was worth as much as $86.5bn when Facebook stock traded at an all-time high earlier on Wednesday, is now worth just $70bn, based on regulatory filings with the U.S. Securities and Exchange Commission.

This places the Facebook CEO who had been the world’s third (3^rd) richest person, at sixth position (6^th), below: Warren Buffett, Bernard Arnault, and Zara founder Amancio Ortega.

Zuckerberg’s losses come after Facebook revealed mixed earnings and slowing growth during the second quarter of 2018. During the quarter, the company added 22 million daily active users; lower than the 41 million it added in the same quarter of the previous year.

Zuckerberg remains Facebook’s largest shareholder, with 12.8 percent of its shares outstanding.

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