Mark Zuckerberg didn’t let a little thing like a $5 billion fine spoil his weekend.
The Facebook founder hobnobbed with fellow billionaires at the annual Allen & Company Sun Valley Conference in Idaho on Friday — also known as “Summer Camp for Billionaires,” as the Federal Trade Commission was slapping his company with the mega-penalty.
Zuckerberg, 35, who is worth a reported $62 billion, was able to console himself surrounded by fat cats like former Mayor Michael Bloomberg, Apple CEO Tim Cook, and Nike founder Phil Knight at the invite-only confab that draws top tech and media executives.
Lawmakers and privacy advocates said the fine to resolve the Cambridge Analytica data scandal didn’t go far enough for a company that reported revenue of almost $56 billion in 2018. “This reported $5 billion penalty is barely a tap on the wrist, not even a slap,” Senator Richard Blumenthal told Bloomberg News.
The agreement, which will end a year-long probe resulting from revelations surrounding user data scooped up by Cambridge Analytica during the 2016 elections, still needs the OK from the Justice Department.