- Zuckerberg, the CEO of the world’s largest social media network, lost $3.3billion off his net worth on Friday
- Zuckerberg’s decision to prioritize posts from family and friends over brand-driven content on Facebook’s News Feed has cost him a small fortune
- Facebook shares fell 4.5 percent on Friday after the closing bell on Wall Street
- Zuckerberg, who began the day worth $77.8billion, is now worth $74billion, according to Bloomberg
- Changes will mean a family video clip will be prioritized over company posts
- That means Spanish retail billionaire Amancio Ortega has now leapfrogged Zuckerberg to take fourth place on the list of the world’s richest people
- Zuckerberg said it would be better for users and for the business in the long term
- But the market appears to disagree with the CEO’s assessment
Mark Zuckerberg’s decision to prioritize posts from family and friends over brand-driven content on Facebook’s News Feed has cost him a small fortune, it was reported on Saturday.
The CEO of the world’s largest social media network lost $3.3billion off his net worth on Friday, Bloomberg News reported.
Facebook shares fell 4.5 percent on Friday after the closing bell on Wall Street.
Zuckerberg, who began the day worth $77.8billion, is now worth $74billion, according to Bloomberg.
That means Spanish retail billionaire Amancio Ortega has now leapfrogged Zuckerberg to take fourth place on the list of the world’s richest people.
Both Zuckerberg and Ortega have a ways to go to catch the world’s wealthiest human, Amazon CEO Jeff Bezos.
