Mark Zuckerberg Drops 20 Spots on World's Billionaire List, Fortune Sinks $5 Billion in Two Weeks

Posted by Knowlton Thomas

On May 18, when Facebook debuted at $38 on the public stock market, founder and CEO Mark Zuckerberg boasted a net worth of around $20 billion. This placed him as high as 21st on the list of world's wealthiest people—which we noted was an extraordinarily mind-blowing fact considering his age.

However, Facebook shares have consistently tumbled since then. And because the overwhelming majority of his wealth is tied to this single, highly volatile company, Zuck has seen his fortune sink by roughly $5 billion, or 25%, in less than two weeks. He's now outside of the top 40 billionaires.

This is a "first world problem," of course—I'm sure he'll survive just fine with his remaining billions—but it's still an incredibly dramatic change that highlights the tremendous troubles Facebook has faced in the short time since going public.

With Facebook shares down approximately 24%, the company's valuation has also plunged. From a high of $112 billion after it cracked $41 on opening day (a notably puny "pop" for the largest tech IPO ever), the social networks valuation now sits at about $79 billion.

Company:
Facebook
Website:
http://www.facebook.com
Location:
Toronto, Ontario, Canada

Facebook's mission is to give people the power to share and make the world more open and connected. Millions of people use Facebook everyday to keep up with friends, upload an unlimited number of photos, share links and videos, and learn more about the people they meet. more


Similar Posts


blog comments powered by Disqus

Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



Who's Hiring



Recent Comments

Powered by Disqus