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Showing posts with label loss. Show all posts
Showing posts with label loss. Show all posts

Friday, August 3, 2012

Zuckerberg Drops Out of Top 10 Tech Billionaires

Facebook CEO Mark Zuckerberg had a tough week: His sister went to work for his top competitor, Google, his company’s stock price hit a new low and now he has dropped out of the top 10 tech billionaires list.
Zuckerberg’s fortune fell by $423 million on Thursday to $10.2 billion. That puts him $400 million behind James Goodnight, the co-founder of SAS Institute, the new number 10 on the $21 billion when the company went public in May. Zuckerberg owns 503.6 million shares of his company including 60 million options with an exercise price of $.06 a share. He also has $150 million in cash and other liquid assets, Bloomberg reports.
Facebook’s stock price on Thursday was down 47% from its $38 debut. On Friday morning, however, the stock was up about 2%.