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It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks

There’s never a bad time to have a lot of money, except maybe for the last few weeks.

, ET Bureau|
Updated: Mar 26, 2018, 08.03 AM IST
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It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks
There’s never a bad time to have a lot of money, except maybe for the last few weeks. Take a look at some billionaires who recently lost out on big bucks and one who successfully came out on top.

Mark Zuckerberg

It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks


We’re guessing Zuckerberg wants to face palm himself right now. Facebook is losing face after Cambridge Analytica was accused of harvesting data of 50 million Facebook users, which is bad enough. But what makes it worse is that this information (without permission) was used to help politicians, including US President Donald Trump and for the Brexit campaign. This is the stock’s biggest drop in four years and Zuckerberg, who holds roughly 400 million shares, saw his net worth plunge by around $5 billion.

Donald Trump

It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks


We’ve seen Trump lose a lot of things. His cool, his manners and his mind, to name a few. But, the one that probably affects him the most is the fact that he lost $400 million and dropped a staggering 200 spots on a Billionaire’s List, ranking at a measly No. 766 (and sharing it with more than 20 others). It was reported that his fortune fell due to Manhattan’s declining real estate values as well as lower profits at the Trump golf properties.

Evan Spiegel

It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks


The Snapchat CEO is having a tough time with some of pop culture’s leading ladies. In February, Kylie Jenner tweeted how she no longer used Snapchat which led share prices to fall by more than six per cent. But worse was yet to come for Spiegel. A few days ago, Snapchat put up a poll in bad taste asking users to pick between slapping Rihanna and punching rapper Chris Brown. Given their domestic violence history, it was a no brainer that it didn’t go down well with the public or Rihanna, who tweeted her disapproval, causing Spiegel to take a $150 million hit in his net worth.

Pollyanna Chu

It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks


What do you call the opposite of Lady Luck? Pollyanna Chu. Chu, who used to hold the title of Hong Kong’s richest woman, lost her rankings and her money when the stock market crashed. The executive of Kingston Financial Group, which operates businesses including Macau casinos, fell 50 per cent, causing Chu to lose half of her estimated $12 billion fortune. She is unfortunately a prime example of what the market giveth, the market taketh.

Li Ka-shing

It's that time of the year! How Mark Zuckerberg, Evan Spielberg are losing big bucks


Thankfully it’s still ka-ching for Ka-shing. The 89-year-old selfmade billionaire, who is simply known as “Superman” in Hong Kong, announced that he was passing the reins of the $100 billion retail, infrastructure and property empire to his son Victor Li. CK Hutchison Holdings, which Li built into one of the biggest businesses in Asia, dipped by 2.1 per cent due to its lowest intraday level since March 8 and while CK Asset fell as much as 3.4 per cent after the news of his retirement. But Ka-shing’s net worth still stands mighty at $35.3 billion.


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