Mark Zuckerberg Loses Spot On List Of 40 Richest People

Random Celebrity Article By on May 30, 2012

Even Mark Zuckerberg, founder and CEO of Facebook, knows what it's like to be rejected. Thanks to the disappointing performance of Facebook on the stock market, the accidental billionaire has dropped off of the Bloomberg Billionaires Index, a list of the forty richest individuals in the world.

Richest CEO Mark Zuckerberg

Billionaire Facebook CEO Mark Zuckerberg

That disappointing performance has only gotten worse, flying in the face of the more optimistic analysts who predicted a stiff turnaround back into the black for the hotly anticipated stock. Now, Facebook is being called "the worst-performing large initial public offering in the past decade."

As for Zuckerberg, the stock plummet has cost him a reported $2.2 billion since Friday alone, with his fortune now sitting at around $14 billion. While this probably doesn't mean much for Zuck lifestyle-wise, it has cost him his spot on the aforementioned Billionaires Index, where he now sits $800 million behind number 40, businessman Luis Carlos Sarmiento.

These figures can change by the day, especially when a highly scrutinized company like Facebook is concerned. Before its Initial Public Offering a while back, the company was expected to make rain for all of its investors. Instead, the stock has been on a slow and steady decline since then, costing Zuckerberg and all of Facebook's other investors money on their investments rather than profit. According to one financial analyst, " a lot of people who lined up to buy it really had no intention of holding it." This, along with some other factors, are to blame for Facebook surprising fall from grace on the stock market.

Don't feel too bad for Zuck, though – his website is still massively popular, with millions of active users who log on to the site at least once every single day. Still, if this keeps up, Mark might have to increase his current salary of one dollar a year!

Share This on FacebookLike us on FB :)

Mark Zuckerberg Articles

Articles Written by Joseph Gibson
Joseph Gibson is a freelance writer currently based in Austin, TX. His main interests are movies, music, books, and other things you can watch, read, or listen to. Follow Joseph on Google+.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
More Information
Nicknames
Mark Elliot Zuckerberg
Date of Birth
1984-05-14
Nationality
United States of America
Height
5 ft 8 in (1.75 m)
Profession
Country
United States of America
More Mark Zuckerberg
Discussion