The $16.8 billion loss of Facebook CEO, Mark Elliot Zuckerberg in one day is nearly the total funds the Nigerian government spent in 2017 fiscal year.
The lawsuit is designed for class-action status and seeks unspecified damages. Facebook's chief financial officer warned that revenue growth would "decline by high single-digit percentages" for the rest of the year.
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. Questions of data privacy, fake news proliferation and user growth have dogged the company. This was after a 19 percent one-day plunge in the company's share price. Many of those lawsuits have been reportedly consolidated in the federal court in San Francisco.
For Russian business, Putin's summit win over Trump turns sour
But the first part of Mason's question - the part about wanting Trump to win - is not included in the White House's footage of the event.
Vettel says he will not lose sleep over 'small mistake'
Behind him were the two Finnish drivers (Bottas & Raikkonen) in 2nd and 3rd places. Indeed, what a difference a day makes.
United Kingdom to set out more details of Brexit plans on Tuesday: minister
Prime Minister Theresa May has repeatedly said that no deal would be better than a bad Brexit deal. That has infuriated Brussels , which insists that the bill is simply a settling of accounts.
Buffett now ranks third among the world's billionaires, while Zuckerberg is sixth. CEO Mark Zuckerberg saw his net worth fall by roughly $16 billion as a result.
After the Facebook had reported decline in company's second- quarter earnings, many of its investors dumped its shares. The earnings report released by the company stated that the management expects the revenue growth to slow down significantly in Q3 and Q4. Technology companies account for six of the 10 biggest companies in the S&P 500 Index.
Facebook shares fell another 0.8 percent on Friday, closing at $174.89 on the Nasdaq. Scott Kessler, a representative from CFRA Research commented on the issue: "Legal/regulatory developments have led to changes meant to support FB's platform and users, but they will notably restrain growth and profits for at least the next couple of quarters, in our opinion".