Tag: Facebook

Mark Zuckerberg loses $6 billion, still world’s fourth richest man

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Facebook CEO and founder Mark Zuckerberg lost $6.06 billion in Facebook stock value on Monday amid the news of Cambridge Analytica using the data of 50 million users without their permission, reports CNBC.

Since then, the shares of the social media firm plunged as much as 8%. With the news breaking on Monday, Facebook shares were down by 2.6% year-to-date. The stock pared losses slightly during the Monday trading.

However, despite the losses, Zuckerberg is still ranked as the fourth richest man in the world, according to Bloomberg.

Zuckerberg and his affiliated institutions such as the Chan Zuckerberg Initiative have more than 403 million shares of Facebook stock. The shares are still worth about $68.5 billion.

Cambridge Analytica, a political data analytics firm, had worked on Facebook ads for President Donald Trump during the 2016 presidential election.

Facebook later blocked the firm’s app in 2015 and announced last week on Friday that it suspended the firm for bluffing about deleting user data.

Despite the giant insisting that they have followed the mandate to protect the user data, the scuffle has questioned their tech regulations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

The Future of Taxation: Experts decode India’s approach to taxing digital companies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The digital economy has become increasingly entwined with our physical world. It is influencing social interactions, payments, entertainment, and even trading and investing. The Indian digital economy is expected to be worth about USD 35 billion and it is growing at a pace of 24-25 percent a year.

Given the huge disruption that digital has brought about and its blistering growth rate, a key question arises — how should the digital ecosystem be taxed, how can governments earn revenue from services that span borders, as some of the world’s most valuable enterprises like Google, Facebook, and Amazon spread their reach in emerging markets like India, what share of their revenue can the Indian government look at taxing?

In a special show, The Future of Taxation, a panel of experts decode India’s approach to taxing digital companies.

For entire discussion, watch accompanying videos…

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow