Facebook’s Mark Zuckerberg Lost Billions in Net Worth Since Trump Win

Facebook’s Mark Zuckerberg Lost Billions in Net Worth Since Trump Win
Facebook CEO Mark Zuckerberg at the Paley Center For Media in New York City, on Oct. 25, 2019. Drew Angerer/Getty Images
Jack Phillips
Updated:

Facebook founder Mark Zuckerberg has lost several billion dollars in net worth following the Nov. 8 presidential election.

Forbes magazine says that his net worth decreased by about $3.7 billion, which is based on a 7 percent decline in Facebook’s share price between Election Day and Dec. 2.

Following President-elect Donald Trump’s victory, a number of American billionaires have gained wealth, Forbes reported days after Election Day.

“In the past week, the 14 Americans who rank among the planet’s 20 richest people have added $9.4 billion to their combined net worths, according to Forbes’ real time rankings of the World’s Billionaires. The figures are based on the change in market closing prices between November 4 and November 11,” the report said at the time. It added that foreign billionaires were “poorer” after Trump’s upset win.

However, as of Dec. 4, Zuckerberg’s still the fifth-wealthiest person on earth and is worth an estimated $49 billion.

Ahead of him is Microsoft founder Bill Gates, who has $82.7 billion to his name, and is currently the richest person in the world.

No. 2 on the Forbes list, Spanish business magnate Amancio Ortega—owner of clothing giant Inditex, which operates about 7,000 stores in 91 markets—is worth $72.5 billion.

Billionaire Warren Buffett, an investor who owns Berkshire Hathaway, is now the third-richest at $71.5 billion in net worth after Trump’s victory resulted in a $6 billion bump for Buffett, pushing him past Jeff Bezos.

Amazon founder and Washington Post owner Jeff Bezos is worth $64.1 billion, making him the fourth-wealthiest person.

The sixth-richest person is Larry Ellison, the founder of Oracle—worth $47.8 billion.

Mexican Telecommunications magnate Carlos Slim Helu, who owns a substantial portion of the New York Times, is now worth about $46.2 billion. He lost a hefty $4.6 billion since Trump’s win, knocking him down to seventh-richest in the world.

Investors Charles and David Koch are worth $42.6 billion, making them No. 8 and 9 on the Forbes list.

And No. 10 on the list is former New York City Mayor Michael Bloomberg, the owner of media giant Bloomberg LP, at $41.4 billion.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
twitter
Related Topics