Mark Zuckerberg lost his money breaking news

Mark Zuckerberg bore the brunt this week with $10.3 billion wiped from his fortune on the Bloomberg Billionaires Index. He dropped three places to seventh on the ranking as a scandal unfolded at Facebook. The social network’s shares tumbled 14 per cent following reports that it let Cambridge Analytica amass data on 50 million users.

The downdraft also caught Larry Ellison, down $7 billion as Oracle forecast slowing sales growth for cloud-related products. Berkshire Hathaway’s Warren Buffett, Amazon.com’s Jeff Bezos and Alphabet’s Larry Page lost $17 billion combined.

The world’s 500 biggest fortunes now encompass $5.2 trillion, according to the index.