Zuckerberg’s Net Worth Tumbles By $3.7 Billion After Trump’s Election

The economic dynamics of the world’s richest 1 percent not only reveal a stark contrast to the remaining 99 but unlike the rest of us, their businesses also reflect and respond immediately to the international politics of the day.

Brexit and the US Presidential elections were undoubtedly the largest events on the international political scene in 2016 that swayed the international markets and disturbed the fortunes of many an unfortunate billionaire.

Following the results of the US Presidential elections, 14 Americans who rank among the top 20 richest people had added a combined net worth of $9.4 billion, according to the Forbes real time rankings of World Billionaires. The other 6 lost a combined value of $10.6 billion.

No surprises there for Mexico’s richest person, Carlos Slim Helu whose personal net worth dropped as the Mexican stock index plunged 7 percent and the peso slid 14 percent against the dollar. However Mark Zuckerberg’s net worth loss of nearly $3.7 billion did raise an eyebrow.

Facebook’s founder was already reeling under the pressure of bad press due to the fake news scandal, that experts argued to have had considerably affected the outcome of the US Presidential elections.

Facebook stock declined 7 percent after the US Presidential elections, which consequently shrunk Zuckerberg’s personal net worth.

Analysts however point out that this decline in the company’s stock was not due to the fake news scandal, but was a common phenomenon with Tech giants such as Google and Amazon, which were trending at an all time high in mid-October. The shares of all these companies had also dipped since then.

Facebook however does appear to be conscious of the blowback that it can still face from the unsettling issue of fake news and has since published measures it intends to take against publishers for generating misinformation and abusing its ad-placement technology.

Meanwhile, a drop of $3.7 billion in Zuckerberg’s net worth has not affected his world ranking though. The billionaire still sits pretty at no.5.