Facebook and their data scandal seems to be almost all we’ve heard about in the past few days.
The Cambridge Analytica scandal has put data privacy on Facebook directly into the spotlight. Essentially, the entire thing is about third parties being allowed access into what you once thought was private.
However what might shock you is that after appearing at Capitol Hill to face scrutiny over the scandal, Mark Zuckerberg has made $3 billion… Not lost, not stayed the same, he’s actually made money despite being interrogated for the sh*t-storm he’s now at the centre of.
According to CNN Money, Wall Street believe that after his 10 hours of testimony in Congress this week, Mark Zuckerberg came out as the winner.
Despite shares falling on Tuesday morning, they are now up 3 per cent since Zuck first stepped into Capitol Hill.
In total Facebook’s stock has gained about 4.5 per cent since the start of trading Tuesday morning totalling to a rise of around $23 billion for the company as a whole.
And Zuckerberg himself, who owns more than 401.4 million shares in Facebook, got nearly $3 billion out of the share rise in the past few days.
Amazingly, his stake in the company is now worth around $66 billion – that’s a lot of money – making Zuck the seventh richest man in the world.
Though shares are down 16 per cent from the all time high they were at prior to the Cambridge Analytica scandal, most believe the worst is already over.
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Aside from the dark overtones of the scandal, one of the more surreal things to come out of Zuckerberg’s testimony is the fact that his face has become a meme on his own platform.
The ‘Zuck’ was facing a series of questions after reports found data firm Cambridge Analytica attained private information from 87 million Facebook users.
“Mr. Zuckerberg, a magazine i recently opened came with a floppy disk offering me 30 free hours of something called America On-Line. Is that the same as Facebook?” pic.twitter.com/U7pqpUhEhQ
— Dave Itzkoff (@ditzkoff) April 10, 2018
Zuckerberg was on hand to answer questions from the Senate Judiciary and Commerce Committees on privacy, data mining and regulations during the course of a five-hour hearing.
Some of the questions were pretty obvious for tech-types, even people who’ve grown up with social media, so often, Zuckerberg’s expressions were as you’d expect.
Because of this, he’s become the new face of a bunch of memes – and they’re good:
Zuckerberg on his Facebook profile vs Zuckerberg at this Congressional hearing pic.twitter.com/P3bi2Ry5r4
— Tim Mak (@timkmak) April 10, 2018
TFW when people are gonna find out you’ve been selling access to data about how many cat memes users share. pic.twitter.com/UDDDrWR4HX
— Brian Spanner (@BrianSpanner1) April 10, 2018
"is that guy behind me wearing the same tie as me what the fuck" pic.twitter.com/Pb7lUuhLG1
— darth™ (@darth) April 10, 2018
Yup, that's me. You're probably wondering how I ended up in this situation. pic.twitter.com/AyJ6GeadU9
— Joshua Topolsky (@joshuatopolsky) April 10, 2018
— Getty Images News (@GettyImagesNews) April 10, 2018
When you know that you have enough information to destroy everyone questioning you pic.twitter.com/XqHk4Re0yI
— Ben McDonald (@Bmac0507) April 10, 2018
when everything's fine and you feel great pic.twitter.com/d8wenWQfd5
— Ashley Feinberg (@ashleyfeinberg) April 10, 2018
me when I realize my actions have a consequence pic.twitter.com/kNx4rL2uGl
— Amber Discko (@amberdiscko) April 10, 2018
WHY WON'T MY GRANDSON ACCEPT MY FRIEND REQUEST? pic.twitter.com/WEXonYDzKS
— David Mack (@davidmackau) April 10, 2018
Zephyr Teachout, an American academic, wrote in The Guardian:
It failed. It was designed to fail. It was a show designed to get Zuckerberg off the hook after only a few hours in Washington DC.
It was a show that gave the pretense of a hearing without a real hearing. It was designed to deflect and confuse.
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Joseph Loftus is a Gold Standard NCTJ journalist with four years experience working for international and regional press.
As well as working for UNILAD and LADbible, Joseph has worked as Liverpool Correspondent for Unsigned & Independent Magazine, as well as stints with the Liverpool Echo and Warrington Guardian.