Facebook's catastrophic year means Mark Zuckerberg lost more money than any of the world's 500 richest billionaires
- Mark Zuckerberg's net worth took a major hit this year after scandals plagued Facebook.
- Zuckerberg's wealth took its biggest nose-dive after Facebook's disastrous Q2 earnings were announced in July.
- Time magazine's Money reports that he is set to lose the most money out of any of the world's 500 richest people in 2018.
A disastrous year for Facebook has left a major dent in the wealth of CEO and founder Mark Zuckerberg, who has lost billions in net worth since the beginning of 2018.
Zuckerberg began the year with about $75 billion in his pocket, but according to Bloomberg's Billionaire Index, he was worth about $56 billion on December 17. That's a $19 billion drop.
Zuckerberg owns a 13% stake in Facebook, which this year has been beset by crises including the Cambridge Analytica scandal, accusations of mismanagement, a shareholder revolt, and questions over inappropriate content.
On July 25, Facebook's stock price plummeted more than 20% after it revealed disappointing Q2 earnings. This is reflected in the sharp drop in Zuckerberg's net worth.
At its lowest point on November 24, Zuckerberg's net worth was roughly $52 billion. Since then, Facebook's share price has recovered slightly, meaning that Time magazine's Money predicts that he is set to lose about $15 billion this year.