Facebook’s $5 billion speeding ticket

Wealth

Five billion dollars. That’s how much Facebook will have to fork over to the government under a settlement with the Federal Trade Commission.

It’s the biggest fine for violating user privacy by a wide margin – 200 times bigger than the previous record, according to the FTC chair. But some are already saying the settlement doesn’t go far enough.

So after this settlement, can Facebook say it has paid its debt to society? Or did Zuckerberg and company just make out like bandits?

CNBC’s Jon Fortt breaks it all down with Farhad Manjoo of The New York Times.

Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt. Previous episodes of the program can be found here.

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