Bloomberg reports that the 28-year-old’s fortune dropped by $423m Thursday as shares of the world’s largest social media company fell 4% to $20.04 in New York, a record low.
Zuckerberg is now worth $10.2bn. He is about $400m behind James Goodnight, the co-founder of Cary, North Carolina-based software maker SAS Institute Inc., who now ranks as technology’s 10th-richest person, according to the Bloomberg Billionaires Index.
'From an emotional standpoint, he might care', said Ron Florance, Managing Director of Investment Strategy for Wells Fargo Private Bank, in a telephone interview from Winston-Salem, North Carolina. 'He’s much more worried about maintaining Facebook’s market share in the social media space than the day-to-day valuation swings of his company stock. He’s not worried about going broke'.
Facebook shares have fallen 47% from their initial public offering price of $38. The Menlo Park, California-based company last week reported earnings that showed slowing revenue growth.
Hit the link below to access the complete Bloomberg article:
Zuckerberg Falls From Tech’s Richest as Facebook Falters
image: © deneyterrio
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
