Facebook's big data breach has already cost Mark Zuckerberg $3.8 billion

Following weekend revelations that Facebook was exploited by data firm Cambridge Analytica in order to harvest 50 million Americans' profiles, founder Mark Zuckerberg saw his fortune drop by $3.8 billion Monday morning, Bloomberg Technology reports.

Facebook stock had plummeted 6 percent by 10:50 a.m. ET, a change of around 12 points, with the S&P 500 tugged down almost 1 percent with the social media giant as its worst performer. That drop means the company has lost around $25 billion in market value, The Independent adds.

"The FANG internet giant hasn't been a market leader for months, unlike fellow FANGs Netflix, and Amazon and, to a lesser extent, Alphabet," writes Investor's Business Daily, adding: "Facebook's growth story may be winding down."

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up

Brian Wieser, an analyst at Pivotal Research, added to CNBC: "We think this episode is another indication of systemic problems at Facebook … We see enhanced risks for the company, but no near-term tangible impact on its business."