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Spiegel lost nearly 30% of his wealth amounting to $1.4 billion.

Snap’s top guns lose nearly $3B after shares tank

Snap Inc.'s Evan Spiegel lost nearly 30% of his wealth, while Bobby Murphy lost 36%

By Yashasvini Razdan
Published - May 24, 2022, 06:54 PM ET
Last Updated - Feb 29, 2024, 11:53 AM EST

Snap Inc.’s CEO Evan Spiegel and CTO Bobby Murphy saw a large amount of their wealth get wiped out after shares of digital ad-dependent Snap tumbled more than 41%.

The social media app recorded its biggest intraday decline ever, trading below its 2017 IPO price of $17, losing around $15 billion in market cap.

Spiegel lost nearly 30% of his wealth amounting to $1.4 billion, while Murphy dropped $1.8 billion or 36%.

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