Facebook investors faced a shock today after a total of $118billion was wiped off of the social network’s market value.
A total plunge of 19.5 percent was observed today after the stock market opened in New York, in the face of recent scandals causing the site to lose credibility.
The Cambridge Analytics scandal saw 87million accounts effected by data breaches.
Individual shares fell a total of $175 in the early morning in what has been recorded as one of the biggest tech company losses since the year 2000.
How much is Mark Zuckerberg worth?
Currently, Zuckerberg is one of the richest people on the planet, with a total net worth of $63.6billion (£47billion).
This puts the Facebook founder and current CEO between titans of industry Bill Gates and Elon Musk.
However, the latest shock news has resulted in the CEO losing a portion of his personal wealth alongside his company.
Zuckerberg’s personal wealth has now apparently fallen a total of $18.8billion ($14billion).
Once boasting an $82.4billion (£62.7billion) net worth, Zuckerberg was formerly fourth richest person in the world, but latest events mean he has now been pushed down to eighth according to Forbes.
However, the latest fall is still not an all-time low, as Facebook stocks closed on $152.22 (£115.93) on March 27 after the Cambridge Analytica scandal broke.
At that time, Zuckerberg was worth just $61billion (£46billion).
How many users has Facebook lost?
Since the Cambridge Analytica scandal broke, Facebook users started quickly quitting the site as they believed their data was sold off.
According to online polls, Facebook lost over one million active monthly users to GDPR, which was implemented in the face of the scandal.
This means that of the total 15million estimated users on Facebook, a fairly significant portion was lost.
Facebook remains in the grip of scandal after Zuckerberg was called to testify in front of U.S Congress and Parliament in the UK.
The CEO recently faced backlash from comments about not removing Holocaust denial posts on Facebook, using it as an example that some posts should be permitted to exist.
He said: “I’m Jewish, and there’s a set of people who deny that the Holocaust happened. I find that deeply offensive.
“But at the end of the day, I don’t believe that our platform should take that down because I think there are things that different people get wrong.”
The billionaire later retracted his comments after overwhelming backlash, apologising to those he offended.