By Nur Dayana MustakOctober 24, 2022 — 8.44amThe fortunes of Snap co-founders Evan Spiegel and Bobby Murphy are disappearing just as fast as they were made.Shares of Snap plunged 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 $US2.3 billion ($3.6 billion), according to the Bloomberg Billionaires Index. On this day last year, he was worth $US13.9 billion. The fall represents a drop of more than 83 per cent.Evan Spiegel is married to Australian model Miranda Kerr.Credit:Getty Murphy, 34, the company’s chief technology officer, has seen his wealth plunge 81 per cent in 2022 to $US1.9 billion.The owner of photo messaging app Snapchat is the first of the major tech firms to report quarterly earnings, and the results cast a shadow for other platforms that rely on advertising revenue such as Facebook owner Meta Platforms Alphabet’s Google and Pinterest, which report their results this week.The group is competing for a shrinking pool of advertising dollars as spiralling inflation and weaker economic growth is putting pressure on companies and consumer spending. Meanwhile, new rules from Apple that require all apps to get smartphone users’ permission…
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Snapchat billionaires see fortunes plummet by more than 80% in a year
