CEO and co-founder of Facebook, Mark Zuckerberg has lost billions of dollars in net worth.
This is according to Bloomberg's Billionaire Index, which states that Zuckerberg began the year with about $75 billion and now he is worth about $56 billion.
Toby Shapshank, pPublisher at Stuff Magazine says the dent in Zuckerberg's wealth is attributed to Cambridge Analytica.
It is well known that Facebook makes its money through our personal data and we have realised just how bad that has been.— Toby Shapshank, Publisher at Stuff Magazine
Cambridge Analytica was not the first scandal that hit Facebook. The first scandal was the Russian internet scandal that manipulated Facebook and people reading Facebook. Something like 44% of American adults get their news from Facebook.— Toby Shapshank, Publisher at Stuff Magazine
By manipulating Facebook they literally changed the outcome of the American election outcome.— Toby Shapshank, Publisher at Stuff Magazine
To hear the rest of the conversation with Toby Shapshank, listen below: