Since the election of Donald Trump as President of the United States, Facebook CEO Mark Zuckerberg’s net worth has fallen by $3.7 billion.
Since November 8th, the date of the election, Zuckerberg’s worth has declined by as much as $3.7 billion, this figure is based on Facebook’s 7% decline in share price from November 8th until Friday the 2nd of December. This £3.7 billion loss hasn’t affected Zuckerberg’s financial standing massively, he is still currently ranked as the fifth richest person in the world according to Forbes real time rankings and still possesses approximately $49 billion.
Zukerberg has recently come under fire for promoting a narrative that claimed that “fake news” affected the presidential election. Both Google and Facebook took steps on November 14th to ban “fake news” content publishers from generating a cut of advertising revenues through Google AdSense and Facebook Audience Network, a move that “disproportionately impacted right-wing news sites.” Whether or not Zuckerburg’s financial loss is tied to this is unknown.
Shares in Facebook which hit a record high in October have been in a steady decline, as have tech companies such as Google and Amazon. Google closely aligned itself with Hillary Clinton’s presidential campaign, leaked WikiLeaks documents showed and was proven to alter it’s search engine results to favour the Democratic nominee.
Zuckerberg’s declining wealth is surprising given the the impressive stock market returns for many companies following Donald Trump’s election. Many billionaires benefited from the Republican nominee gaining power with America’s 14 richest individuals adding a combined $9.4 billion to their overall wealth.