Facebook CEO Mark Zuckerberg lost more than $15 billion in stock wealth Thursday as investors dumped shares after the social network warned of slowing sales growth.
The massive one-day loss pushed the 34-year-old out of the top 5 in Forbes’ list of the world’s billionaires as he drops from the #4 spot to #6 with a net worth of $67 billion.
He now trails Amazon CEO Jeff Bezos ($149 billion), Microsoft co-founder Bill Gates ($95 billion), LVMH CEO Bernard Arnault ($84 billion), Berkshire Hathaway CEO Warren Buffett ($83 billion) and Amancio Ortega ($72 billion), founder of retailing group Inditex.
Facebook shares plunged 19 percent Thursday to $176.26 as the company shed about $100 billion in market value.
It was the tech company’s largest stock drop ever and was the biggest stock-market wipeout for a U.S. company ever, according to Bloomberg.
Triggering the stock sell-off: The company said its sales growth would continue to slow through the rest of the year and cited higher expenses related to user security.
To keep things in perspective, Zuckerberg’s compensation at the tech company clocks in at about 37 times higher than the average Facebook employee, according to its 2017 proxy.
The median compensation for a Facebook employee was $240,000 in 2017, compared to Zuckerberg’s $8.85 million.