This CEO could lose more than any of the world's richest billionaires in 2018

By Business LeadersFOXBusiness

Facebook apologizes for bug sharing 6.8 million users’ private photos

Forbes publisher Rich Karlgaard discusses how Facebook announced that approximately 6.8 million users might have had their pictures exposed to third party app developers without their permission.

It has been a tough year for social media giant Facebook – which has been reflected in CEO Mark Zuckerberg’s finances.

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One year ago, Zuckerberg’s net worth was estimated at $74.5 billion, according to Bloomberg’s Billionaire’s Index. As of Tuesday, it had dropped to $55.5 billion – a whopping $19 billion decrease. Even if Zuckerberg were to only lose $15 billion, as predicted by Time Inc.’s Money Magazine, he is likely to see more of his net worth wiped out this year than any of the world’s 500 richest billionaires.

Amid a myriad of data privacy and security scandals, shares of Facebook – of which Zuckerberg is a major holder – have fallen nearly 19 percent so far this year.

While Zuckerberg’s loss is potentially the largest, he is not the only CEO to see their net worth drop in 2018 – which has proven to be a volatile year for the equity markets.

Alibaba co-founder Jack Ma, for example, saw his net worth drop to $36.7 billion from $45.6 billion, according to Bloomberg, an $8.9 billion decline.

Amancio Ortega, who founded Inditex fashion group – the parent company of retailer Zara – saw his net worth tumble to $61 billion, from $76 billion.

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Google co-founders Larry Page and Sergey Brin lost $3.1 billion apiece.

Even legendary investor Warren Buffett lost about $4.4 billion.

Meanwhile, Amazon CEO Jeff Bezos – currently the world’s richest man – saw a $25 billion jump in net worth to $126 billion. Shares of the e-commerce giant have risen more than 31 percent so far this year. The world’s second-richest person, Bill Gates, also saw his worth increase – though slightly.

The U.S. stock market is on track for its worst December performance since 1931.