Mark Zuckerberg lost $16.8 billion in 2 hours, more than Aliko Dangote’s net worth

Facebook founder, Mark Zuckerberg, on Wednesday, lost $16.8 billion in almost two hours as the shares of the social media giant tumbled.

The slide on Zuckerberg's fortune is worth more than the net worth of Africa's richest man, Aliko Dangote, whose worth is around $12.3 billion as at July 9, 2018.

For many of the world's richest people, most especially Africa's billionaires, losing $16.8 billion in a day would be a wipeout. The amount is just a fifth of Zuckerberg's net worth.

According to Bloomberg, Zuckerberg's fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20% in post-market trading in New York on disappointing results.

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If the bearish moment continues on Facebook stock on Thursday, Mark Zuckerberg will exit the top three richest billionaires on the Bloomberg Billionaires Index.

Nigerian billionaires lost over N500 million in 6 months

Just like Zuckerberg, Africa's richest man, Aliko Dangote has lost more than $100 million of his net worth due to the bearish moment of the stock market.

In May, his fortune dropped by 0.8% to $12.3 billion from the last record of $12.8 billion as at Monday, May 21, 2018, according to the latest Bloomberg Billionaires Index of top 500 billionaires in the world.

According to a report, Dangote and other billionaires lost over N500 billion of their fortune to the Nigerian stock market dip in the last first half of 2018.

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