Web Desk: Cambridge Analytical affects the Facebook’s trust factor as well as seriously damaged its financial holdings. In the wake of the scandal, Facebook lost his investors growth and company lost over $119 billion in market value.
Facebook’s shares plummeted 19 percent on Thursday after the company revealed that three million European users had abandoned the platform since the Cambridge Analytical scandal breached the personal data of 87 million people.
The company experiences a biggest drop in a single day. Shares price fell to $176, putting the company’s value at $510 billion, from the $630 billion it has started the day with.
Since Zuckerberg owns 17 percent of Facebook, he lost a tidy sum as well, dropping in value from $86.5 billion to about $70 billion. He lost 16.5 billion in a day, which is roughly Rs 212 lakh crore.
Source: India Times