Evan Spiegel’s Net Worth Gets Slapped Down After Rihanna Tells Fans To ‘Delete’ Snapchat

Snapchat stock market

Getty Image

Rihanna’s words wield the kind of power that could make anyone a star. Her tweets alone garner her presidential nominations and bring in huge money and endorsement deals. But can the songstress sing a tune that could sink an app and a billion dollar company?

Just weeks after Kylie Jenner blasted Snapchat and told her legions of fans she was quitting Snapchat cold turkey, Rihanna went off about the picture-and-video sharing platform after she got wind of an incredibly tasteless ad popped up.

The Snapchat app asked users if “they’d rather slap Rihanna or punch Chris Brown,” Rihanna’s ex-boyfriend. The singer pleaded guilty to assault after violently attacking the singer back in 2009. Snapchat removed the ad and released a statement stating that “the advertisement was mistakenly approved and that it had violated its advertising guidelines.”

The apology didn’t work, work, work, work, work, work for the singer. She took to Instagram to continue her Snap bashing.

“Now SNAPCHAT I know you already know you ain’t my fav app out there!” she wrote. “I’d love to call it ignorance, but I know you ain’t that dumb! You spent money to animate something that would intentionally bring shame to [domestic violence] victims and made a joke of it!!!!”

Last Thursday, after news broke of Rihanna’s call for Snapchat ban, shares of Snap, the app’s parent company, tumbled as much as 5% and dropped another 2% Friday. Snap rebounded slightly towards the end of the day for a total two-day loss of 4.7%.

The most significant hit was felt in the pocket of Evan Spiegel, Snap’s co-founder and CEO. Forbes reports that Spiegel’s net worth dropped nearly $150 million over those tumultuous two days. Don’t cry too hard for Spiegel, he’s still worth an estimated $3.8 billion.

Will more celebrities dump the app in favor of other social platforms? With over 187 million daily active users, and Instagram rolling out a ton of new features, they’ll want to keep the “rude boy” antics to a minimum.

[via Forbes]