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

The $16.8 billion loss of

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.

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

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

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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.

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.