Snap’s Billionaire Co-Founders See Wealth Vanish as Growth Stalls
Shares of the social media platform hit 2019 lows after the company reported its slowest sales growth ever.
This article is for subscribers only.
The fortunes of Snap Inc. co-founders Evan Spiegel and Bobby Murphy are disappearing just as fast as they were made.
Shares of Snap plunged on Friday after it reported its slowest quarterly sales growth ever. After the latest decline, Spiegel, 32, the company’s chief executive officer, has a net worth of $2.3 billion, according to the Bloomberg Billionaires Index. On this day last year, he was worth $13.9 billion.