One of the leading Technology tycoons and youngest billionaire, Mark Zuckerberg lost around $15.5 billion from their fortunes. While looking into the sector’s most valuable technology companies made some wrong predictions which turned out to be a huge loss for the founder and his company. Facebook Inc.’s Mark Zuckerberg has faced the biggest drop in net worth of $3.2 billion. Previously, the biggest drop was $1.3 billion for Alibaba Group Holding Ltd.’s Jack Ma and a $1.2 billion wipeout for Amazon.com Inc.’s Jeff Bezos.
This is not the first time when such thing happened, previously in June this year, Jeff Bezos from Amazon and Mark Zuckerberg from Facebook, both lost billions over the period. According to the Bloomberg data, The Amazon founder and CEO saw his net worth coming down from approximately $86.5 billion to $82.8 billion over a period of time, while Facebook founder Zuckerberg has lost $2.5 billion to see his net worth fall to $63.5 billion. Google’s Larry Page and Sergey Brin, and Oracle’s Larry Ellison have also faced significant declines in their revenue generation but their amount was not as high as others.
Recently, Mark Zuckerberg stated that “over the past year and a half, Facebook’s business has performed well, and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more. As a result, I’ve asked our board to withdraw the proposal to reclassify our stock – and the board has agreed.”