Friday, January 12, 2018

Facebook News Feed Plan Tanks Stock, Costs Zuckerberg $4B | hypebot

Mark ZuxkerbergThe same plan to devalue pages in the Facebook News Feed that sent musicians and music marketers scrambling did the same for investors Friday. Facebook stock fell 4.47%, closing down $8.40 at $179.37. For founder Mark Zuckerberg, that translates to a $4 billion loss in his net worth.  

But don't feel to bad for Zuckerberg,  He's still worth about $74 billion. 

Musicians and music marketers who spent countless hours building an now devalued following on Facebook are not so lucky. 

MORE: Facebook Overhauls News Feed, Demotes All Pages

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