Facebook’s Mark Zuckerberg Lost Billions in Net Worth Since Trump Win
Facebook founder Mark Zuckerberg has lost several billion dollars in net worth following the Nov. 8 presidential election.
Forbes magazine says that his net worth decreased by about $3.7 billion, which is based on a 7 percent decline in Facebook’s share price between Election Day and Dec. 2.
Following President-elect Donald Trump’s victory, a number of American billionaires have gained wealth, Forbes reported days after Election Day.
“In the past week, the 14 Americans who rank among the planet’s 20 richest people have added $9.4 billion to their combined net worths, according to Forbes’ real time rankings of the World’s Billionaires. The figures are based on the change in market closing prices between November 4 and November 11,” the report said at the time. It added that foreign billionaires were “poorer” after Trump’s upset win.
However, as of Dec. 4, Zuckerberg’s still the fifth-wealthiest person on earth and is worth an estimated $49 billion.
Ahead of him is Microsoft founder Bill Gates, who has $82.7 billion to his name, and is currently the richest person in the world.
No. 2 on the Forbes list, Spanish business magnate Amancio Ortega—owner of clothing giant Inditex, which operates about 7,000 stores in 91 markets—is worth $72.5 billion.
Billionaire Warren Buffett, an investor who owns Berkshire Hathaway, is now the third-richest at $71.5 billion in net worth after Trump’s victory resulted in a $6 billion bump for Buffett, pushing him past Jeff Bezos.
Amazon founder and Washington Post owner Jeff Bezos is worth $64.1 billion, making him the fourth-wealthiest person.
The sixth-richest person is Larry Ellison, the founder of Oracle—worth $47.8 billion.
Mexican Telecommunications magnate Carlos Slim Helu, who owns a substantial portion of the New York Times, is now worth about $46.2 billion. He lost a hefty $4.6 billion since Trump’s win, knocking him down to seventh-richest in the world.
Investors Charles and David Koch are worth $42.6 billion, making them No. 8 and 9 on the Forbes list.
And No. 10 on the list is former New York City Mayor Michael Bloomberg, the owner of media giant Bloomberg LP, at $41.4 billion.