Tech Founders Lost Nearly $9 Billion This Week As Big Tech Faces Increased Regulatory Scrutiny
Posted on AllSides December 13th, 2020
From The Center
Shares of big tech companies have been driving the surge in the stock market during the pandemic. But this week heavyweights Amazon, Google and Facebook took a hit when faced with the prospect of increased regulatory scrutiny. Big tech stocks—and their founders’ fortunes—fell after two separate antitrust lawsuits were announced against Facebook this week.
Amazon CEO Jeff Bezos, Facebook CEO Mark Zuckerberg and Google’s two cofounders—Larry Page and Sergey Brin—are a combined $8.5 billion poorer in the week through Friday, December 11.
The Federal Trade Commission on Wednesday announced...
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