Zuck loses $3bn in a day

Facebook head honcho Mark Zuckerberg lost $3bn yesterday after shares in his company fell following an earnings warning about slowing advertising growth.

Despite a huge jump in the social media giant's revenues in Q3 2016 – up 59 per cent on last year – and a tripling of its profits to $2.4bn, the warning that it expected growth to slow led to a 5.4 per cent drop in the share price. It has also been a rough week for Facebook, with its shares dropping 7.5 per cent since October 28.

But before you feel too badly for the Zuck, it's worth noting that he is still worth an estimated $52bn and remains in with the top ten richest people on the planet. The recent share price dip is also nothing compared to the huge increase in its value over the past four years: in November of 2012, Facebook shares were trading at $21; today they're at $121.

That said, the $3bn drop in Zuck's personal Facebook stake is equivalent to the $3bn that he has pledged to give to good causes through the Chan Zuckerberg Initiative. So if you want to keep those kids healthy, just keep sharing your personal information with Facebook so you can be more effectively advertised at. ®