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By Tom Metcalf / Bloomberg
January 12, 2018
Mark Zuckerberg, chief executive officer and founder of Facebook Inc., attends the fourth day of the annual Allen & Company Sun Valley Conference, July 14, 2017 in Sun Valley, Idaho.
Mark Zuckerberg, chief executive officer and founder of Facebook Inc., attends the fourth day of the annual Allen & Company Sun Valley Conference, July 14, 2017 in Sun Valley, Idaho.
Drew Angerer—Getty Images

Mark Zuckerberg’s latest Facebook post is proving expensive.

The co-founder of the world’s largest social-media business saw his fortune fall $2.9 billion Friday after he posted plans to shift users’ news feeds toward content from family and friends at the expense of material from media outlets and businesses.

Shares of Menlo Park, California-based Facebook tumbled 3.9 percent at noon in New York, cutting Zuckerberg’s fortune to $74.4 billion on the Bloomberg Billionaires Index. If that decline holds through the close of trading, he will lose his place as the world’s fourth-richest person to Spanish retail billionaire Amancio Ortega.

The drop wipes out much of the $4.5 billion Zuckerberg, 33, has added so far this year. The world’s 500 richest people gained $1 trillion in 2017 and an additional $17 billion in the first two weeks of 2018, according to the Bloomberg index.

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The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

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