Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Zuckerberg Fortune Falls $1.6 Billion as Facebook Drops

Facebook Inc. (FB)'s co-founder and chief executive officer, Mark Zuckerberg. Photographer: David Paul Morris/Bloomberg
Facebook Inc. (FB)'s co-founder and chief executive officer, Mark Zuckerberg. Photographer: David Paul Morris/Bloomberg

July 27 (Bloomberg) -- Facebook Inc.’s co-founder and chief executive officer, Mark Zuckerberg, continued his fall down the ranks of the world’s billionaires as the company’s shares plummeted to a record low.

The 28-year-old’s fortune plunged to $12.1 billion from $13.7 billion today, according to the Bloomberg Billionaires Index. Shares of the world’s largest social-networking company sank as much as 17 percent after the company reported its second-quarter operating margin dropped from a year earlier and sales grew at the slowest pace on record. The shares closed down 11.7 percent at $23.71 in New York.

“They are probably a little bummed out right now,” Herman Leung, an analyst at Susquehanna Financial Group, said in a telephone interview from his San Francisco office. “Facebook has to balance more of a fine line between delivering numbers for Wall Street and deciding how much monetization it’s going to push toward impacting its user base.”

The Menlo Park, California-based company was down 38 percent from its $38 offering price. Facebook raised $16 billion in its IPO, the largest ever for a technology firm. It is the worst-performing large initial public offering in the past decade.

Sandberg, Parker

Other Facebook shareholders have also taken a hit. Dustin Moskovitz, 28, who started the company with Zuckerberg from their dorm room at Harvard University, owns 133.7 million shares of the company’s Class B stock worth $3.2 billion, down $1.9 billion since the IPO.

Eduardo Saverin, 30, has a $1.3 billion stake, down $760 million since the offering. According to a regulatory filing dated May 17, he owns 53.1 million shares of the company.

Sean Parker owns 66 million Facebook shares valued at $1.6 billion. The 32-year-old persuaded Zuckerberg to move to California to focus on the company full-time in 2004.

Facebook’s chief operating officer, Sheryl Sandberg, 42, who was lured from Google in 2008, owns almost 16 million shares and vested restricted stock units, according to data compiled by Bloomberg. They are valued at $378 million, down $228 million since the IPO.

To contact the reporter on this story: David De Jong in New York at ddejong3@bloomberg.net

To contact the editor responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.