Mark Zuckerberg lost $ 3.3 billion on Friday following the announcement of a change in the Facebook posting algorithm as a result of the company’s 4.5% drop in shares on the New York Stock Exchange.
Following the decline in Facebook Shares, Zuckerberg’s wealth fell to $ 74 billion, according to Bloomberg’s billionaires. He has thus lost the position of the fourth richest man in the world in favor of Spanish billionaire Amancio Ortega, Bloomberg reports .
Facebook shares slip after News Feed overhaul
The richest 500 people in the world earned $ 1,000 billion last year and another $ 192 billion in the first two weeks of 2018, according to the Bloomberg index.
Facebook tried to calm the creators of articles and video content worried about Zuckerberg’s announcement that the social network he is leading will put more emphasis on what he calls significant social interaction instead of passive consumption of news.
Articles and clips that attract comments and likes or are distributed by users will be more likely to be visible, said Facebook in an email from Bloomberg.
The company will continue to prioritize the content that users are looking for regularly, such as weekly videos.
Facebook Changes Could Mean Less Time Spent on Site; Shares Fall
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