The backlash against Facebook has destroyed $40 billion in market value in a matter of hours

Down it goes.
Down it goes.
Image: Reuters/Benoit Tessier
By
We may earn a commission from links on this page.

Following revelations that Trump consultant Cambridge Analytica collected and exploited the data of tens of millions of Facebook users without their permission, the company took a massive hit, losing about $40 billion in market value on Monday morning.

As Facebook’s stock plummeted, so did CEO Mark Zuckerberg’s personal fortune, by almost $4 billion. The company faces several official investigations, and increased calls for government regulation.