Snapchat Founders' combined net worth plunges by $1 billion
The combined net worth of Snapchat Co-founders Evan Spiegel and Bobby Murphy fell by $1 billion on Thursday after the photo-sharing app maker reported Q2 earnings. The company's stock dropped nearly 17%, leaving Spiegel and Murphy with a fortune of $2.6 billion each. Their net worths are now less than half of what they were after Snapchat's IPO in May.