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By Angel Au-Yeung
Mark Zuckerberg's fortune fell nearly $ 20 billion in less than two hours Wednesday afternoon when Facebook shares suffered a blow in post-closing deals .
5:30 pm At Eastern time, Facebook's shares had fallen 20% to 181.89, affecting billions of the fortune of the founder of the social network. Shortly after, at 5:48 pm ET, the stock plummeted to $ 167, bringing Zuckerberg's net worth to $ 63.6 billion. This is a decrease of $ 18.8 billion from the 82.4 billion Zuckerberg at the end of Wednesday's session.
Zuckerberg was the fourth richest person in the world Wednesday at noon, but with his current fortune, he lost four places. eighth place, according to Forbes real-time rankings.
Facebook shares fell due to a report on second-quarter results that did not meet analysts' expectations for revenue growth and growth
Facebook went through several months difficult as a result of revelations that data firm Cambridge Analytica improperly collected information on 80 million Facebook users. The company has faced hearings before the US Congress and the British Parliament.
Facebook exceeded expectations for the second quarter in terms of revenue growth and daily active users in North America and Europe. However, despite Wednesday's fall, the stock remains above the level of March 27, ten days after the Cambridge Analytica issue broke, closed at $ 152.22 and Zuckerberg having a $ 61 billion fortune . [19659003] Brent Thill, CEO of Jefferies, which covers technology, said: "Facebook has not met this quarter, but we are still optimistic about the long-term outlook." Of all the positives, Thill estimates that Instagram, which Facebook bought for $ 1 billion in 2012, will help guide Facebook toward better performance in the future.
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