FACEPLANT: Zuckerburg Loses $9 Billion Since Facebook's IPO
Facebook founder Mark Zuckerberg has taken a nine billion dollar faceplant since his company went public in May.
Facebook has lost about half its value since the inital offering -- hitting hitting an all-time low last week -- and the 28-year-old head honcho has been the biggest loser.
We've been skeptical since the beginning, when Jim Rogers warned us that “That kind of stock I don't buy. They are usually very, very expensive. A lot of people like to buy expensive stocks like that, but I do not,” he said.
Good thing for Rogers, bad thing for Zuckerberg...
From LA Times:
On Thursday alone, his fortune fell by $423 million when the stock price reached a new low of $20.04.
At market close Thursday, Zuckerberg was worth $10.2 billion, according to the Bloomberg Billionaires Index.
That knocked him out of the top 10 for richest technology billionaires, according to Bloomberg, putting him $400 million behind James Goodnight, the co-founder of software maker SAS Institute Inc.
Facebook’s stock picked up Friday morning. At the time of this writing, shares had increased 4.8% to about $21.
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