Facebook CEO Mark Zuckerberg is reeling from a $16 billion personal loss. His company experienced a weak second quarter and many are attributing this to fake news and data scandals.
Analysts say the fallout from Cambridge Analytica and new privacy laws in Europe are some of many culprits for the shortfall.
According to Fox News, daily active Facebook users in the United States and Canada were stagnant. Around 185 million use the social platform in Canada and the U.S. alone while the number of users in Europe fell from 282 million to 279 million.
Investors aren't happy. One activist and investor is calling on Facebook to remove Zuckerberg as the company's chairman. Zuckerberg had a net worth of $77.6 billion which fell to approximately $68.9 billion booting him from the 3rd spot of the richest person in the world to the sixth spot. As of Wednesday, Facebook Inc. lost over $100 billion in stock market value.
See what Pat thinks of it all in the clip above.
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