Connect with us


PANIC: Facebook Loses Over $100 Billion In Value, Zuckerberg Under Fire

Amid the grim projections, some shareholders are attempting to check Zuckerberg’s power over what they describe as his “mishandling” of the various scandals that have plagued the company in recent years. Business Insider reports that on Wednesday, Investment company Trillium Asset Management filed a proposal to separate the chair and CEO positions, both of which Zuckerberg currently holds.

“Separating the chair and CEO positions reduces this conflict, and an independent chair provides the clearest separation of power between the CEO and the rest of the board,” the proposal states.

Meanwhile, Bloomberg reports that Facebook CEO Mark Zuckerberg personally lost about 20% of his fortune on Wednesday, around $16.8 billion, which the outlet blames generally on “user disenchantment with Facebook Inc.” If those losses hold through the close of Thursday, Zuckerberg “will slide to sixth place from third on the Bloomberg Billionaires Index,” the outlet notes, and he would lose his $13.7 billion of gains for the year, “leaving him with just less than $70 billion.”

Continue Reading


Leave a Reply

Your email address will not be published. Required fields are marked *