Mark Zuckerberg halts Facebook stock sale as value PLUMMETS over privacy scandals

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https://www.thesun.co.uk/tech/8112733/mark-zuckerberg-facebook-stock-selloff/

BILLIONAIRE Mark Zuckerberg has halted the sale of his Facebook stock after the company’s value collapsed last year.

The controversial 34-year-old has seen his company fall from grace, and failed to sell a single share in the last three months of 2018.

Back in September 2017, Zuck promised to flog between 35million and 75million of his Facebook shares over 18 months.

It was part of a promise to give away most of his fortune, which requires converting stocks to hard cash.

Since then, he’s sold about 30.4million shares worth roughly $5.6billion (£4.4billion).

But Bloomberg says that the Facebook CEO has stopped selling shares after 2018 saw Facebook’s worth plummet.

2018 saw the ashen-faced CEO appear before US Congress for questioning over Facebook’s dodgy privacy antics

In just a few days in December, Facebook’s stock price slumped by nearly $10billion (£7.4billion) after sealed court documents about the firm were released to the public.

The secret files – which contain emails from billionaire boss Mark Zuckerberg – revealed the inner workings of Facebook, and the company’s blatant disregard for user privacy.

And between July and December, Facebook lost around £172billion, as the year saw Zuck’s social network become the world’s most notorious tech firm.

At the time, it was equivalent to losing the combined value of Netflix (£94.2billion), Twitter (£20.5billion), Snapchat (£5.78billion) and Sony (£49.6billion).

Facebook has also lost £92billion in value since the beginning of 2018.