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

Reuters/Benoit Tessier
Down it goes.
By Hanna Kozlowska, Jason Karaian
Published Last updated This article is more than 2 years old.

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.

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