Tech Podcast: Zuckerberg's riches take a hit as Facebook stock plunges : Bulletin

Facebook could lose $151 billion in market capitalization today

The American technology entrepreneur, according to Forbes, is now worth $77.6 billion.

Siva Vaidhyanathan, a media studies professor at the University of Virginia and author of the new book, "Antisocial Media: How Facebook Disconnects Us and Undermines Democracy", dismissed the significance of the stock plunge. Facebook shares dragged down some of the other social networks as well, including Twitter and Snap.

After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent.

At least 16 brokerages cut their price targets on Facebook after managers said the cost of improving privacy safeguards, as well as slowing usage in the biggest advertising markets, would hit the company's profit margins for more than two years.

Some analysts said Facebook's issues would not be easily resolved.

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There are several reasons for the declining revenue growth rate.

Facebook has faced dozens of lawsuits over its handling of user data in a scandal also concerning the United Kingdom firm Cambridge Analytica. For a company that generates revenue through targeted marketing that is heavily centered on personal data, this could turn out to be a big blow.

It is even expected for growth rates to continue declining by "high single-digit percentages", and is said to happen each of the next two quarters. This forced them to magnify the call for changes at the top. People are switching to a functionality that is less monetizable.

"It can notify a user when an unsolicited message was sent from a Messenger account that's not paired with an official Facebook one", The Verge reported. There are more than 2.5 billion active users of Facebook that provides unique value for investors as well as advertisers. The number of 1.47 billion users a day on average is still astounding for a company of this type.

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