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Only Mark Zuckerberg erased $ 16 billion from his portfolio and dropped three positions on the list of the richest men in the world. However, the impact could be worse.
Facebook has a habit of creating records and has not become the world's largest social network in vain. However, yesterday it has reached another milestone that its founder and CEO, Mark Zuckerberg, would certainly have preferred to avoid: the biggest loss of market capitalization in the history of the United States.
eyes, technology has cleared $ 124 billion of its market value, nearly a quarter of the total accumulated until June ($ 562,695 million) and a little less than half of Chile's gross domestic product ($ 247 billion). The amount, in addition, exceeds the GDP of the other 134 countries.
Shares fell yesterday to 20%, after the results of the second quarter delivered the day before, at the close of operations, disappoint the market. The company then reported that the average number of users visiting the portal each day has grown less than expected and that it has also failed to meet revenue estimates for the three months up until June.
The company also dragged the Nasdaq index yesterday, leaving a 1.44% below the end of the previous day
That's only the first blow of the data breach scandal Cambridge Analytica consulting firm, which eventually reached more than 87 million people. And Wednesday, Facebook warned Wall Street that the numbers would not improve much in the second half of 2018.
History
More than 120 billion US dollars disappeared from the coffers of the social network left behind In the midst of the Internet bubble crisis in September 2000, Intel set a negative precedent of eliminating US $ 91 billion of its capitalization.
ranking, follows Microsoft with $ 77,400 million less, then Apple, which in January 2013 lost $ 60 billion. Fifth, the ExxonMobil registry, which suffered a $ 53 billion decline in 2008, according to Bloomberg data
In addition, it can be said that what happened with Facebook is almost four times the capitalization total of Twitter,
It is also similar to the stock market value of McDonald's and Nike, and much larger than that of giants such as General Electric, Goldman Sachs and BlackRock, or even the whole of Argentine stock market. [19659005MaisilestégalementcomparableauMardinoirde1929lorsquelemarchéboursieraméricainavudisparaître14milliardsdedollarsaméricainscequientermesdedollard'aujourd'huietajustépourl'inflationseraitd'environ200milliardsdedollarsdepertes[19659008] How much did Zuckerberg lose?
Only Zuckerberg lost $ 16 billion yesterday with the debacle of his business on the New York Stock Exchange and lost three positions, in sixth place, in the list of men The richest in the world.
However, the impact on his pocket could have been worse. And it's that the technology CEO had sold at least 3,500 million US dollars of his shares since the Cambridge Analytica scandal was announced on March 17 this year.
Although this movement coincides with the filtration episode Zuckerberg and his wife Priscilla Chan were committed in December 2015 to leave most of their roles to invest in philanthropic causes.
Seven other Facebook members sold $ 400 million during these months, as part of a predetermined trading plan announced in September
Little margin for error
Liquidation abrupt yesterday marked the end of a two-year bull market where the five FAANGS – Facebook, Netflix, Amazon, Apple and Google – they had moved in unison, suggesting that the investors had begun to differentiate between Silicon Valley groups. "Today, there is a very narrow margin of error in the field of technology," said Michael Underhill, chief investment officer at Capital Innovations.
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