ADVERTISEMENT

Facebook CEO's one day loss is almost Nigeria's budget in 2017

The loss of Facebook when its shares tumbled on Wednesday, July 25, has been calculated to be close to Nigeria's budget for 2017.

Zuckerberg, on Wednesday, July 25, 2018 lost $16.8 billion in almost two hours as the Facebook shares tumbled.

The sum, $16.8 billion, if converted to Naira totals over N6 trillion (6,074,040,000,000).

In 2017, the National Assembly passed the 2017 Appropriations Bill, raising the budget from N7.28 trillion earlier proposed by President Muhammadu Buhari to N7.44 trillion.

ADVERTISEMENT

The amount is just a fifth of Zuckerberg's net worth.

The American technology entrepreneur, according to Forbes, is currently worth $77.6 billion.

Zuckerberg's $16.8bn loss is more than Dangote’s net worth

The slide on Zuckerberg's fortune is worth more than the net worth of Africa's richest man, Aliko Dangote, whose worth is around $12.3 billion as at July 9, 2018.

ADVERTISEMENT

For many of the world's richest people, most especially Africa's billionaires, losing $16.8 billion in a day would be a wipeout.

According to Bloomberg, Zuckerberg's fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20% in post-market trading in New York on disappointing results.

If the bearish moment continues on Facebook stock on Thursday, Mark Zuckerberg will exit the top three richest billionaires on the Bloomberg Billionaires Index.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Video of weird school competition shows young students licking one another's feet

Video of weird school competition shows young students licking one another's feet

UniCal records highest number of first class graduates in 49 years

UniCal records highest number of first class graduates in 49 years

Army announces names of 17 soldiers killed in shocking Delta attack

Army announces names of 17 soldiers killed in shocking Delta attack

Ooni wants Ile-Ife, Modakeke indigenes to live together peacefully

Ooni wants Ile-Ife, Modakeke indigenes to live together peacefully

'Politics is not about being negative every time' — Peter Obi

'Politics is not about being negative every time' — Peter Obi

Army thinks Okuama community planned shocking murder of 16 soldiers in Delta

Army thinks Okuama community planned shocking murder of 16 soldiers in Delta

27,600 Benue women to receive grants, loans for business growth, self reliant

27,600 Benue women to receive grants, loans for business growth, self reliant

₦184 million per street light project and other shocking figures in 2024 budget

₦184 million per street light project and other shocking figures in 2024 budget

We'll stand with you like wall of Gibraltar - Tinubu tells Edo guber candidate

We'll stand with you like wall of Gibraltar - Tinubu tells Edo guber candidate

Pulse Sports

Super Eagles Bright Osayi-Samuel punches pitch invader as violence erupts following Trabzonspor vs Fenerbahce

Super Eagles Bright Osayi-Samuel punches pitch invader as violence erupts following Trabzonspor vs Fenerbahce

Naija Stars Abroad: Moffi, Chukwueze battle Oshoala, Echegini for POTW

Naija Stars Abroad: Moffi, Chukwueze battle Oshoala, Echegini for POTW

Report: Super Eagles get new coach for Ghana and Mali clash

Report: Super Eagles get new coach for Ghana and Mali clash

Osimhen misses out on N17b payday after Napoli's UCL loss to Barcelona

Osimhen misses out on N17b payday after Napoli's UCL loss to Barcelona

‘Thank you’ - Osimhen’s girlfriend Stefanie Ladewig grateful for being the mother of his child

‘Thank you’ - Osimhen’s girlfriend Stefanie Ladewig grateful for being the mother of his child

4 reasons why Victor Osimhen should choose Arsenal over Chelsea, Manchester United and PSG

4 reasons why Victor Osimhen should choose Arsenal over Chelsea, Manchester United and PSG

ADVERTISEMENT
ADVERTISEMENT