6 years ago
A billionaire biotech investor says Facebook will be decimated by its disastrous data leak
Jim Mellon, the billionaire British investor, has predicted that Facebook faces "decimation" over the Cambridge Analytica data disaster. Speaking on CNBC's "Squawk Box" after a tumultuous two weeks for Mark Zuckerberg's social-media company, Mellon said the fallout would be far-reaching after Facebook was plundered for the data of 50 million users. The scandal has wiped about $80 billion, or 57 billion British pounds, off Facebook's value, and Mellon said the firm's share price could halve over the next two years.
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