Three million European users abandon platform after Cambridge Analytica breach revealed

More than $109bn (£83bn) has been wiped off Facebook’s market value, including a $14.5bn hit to the fortune of founder Mark Zuckerberg after the company warned investors that user growth had slowed in the wake of the Cambridge Analytica data leak scandal.

Facebook’s shares collapsed by 18% on Thursday when the stock market opened in New York, a day after the Silicon Valley company revealed that 3 million users in Europe have abandoned the social network since the Observer revealed the Cambridge Analytica breach of 87m Facebook profiles and the introduction of strict European Union data protection legislation.

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