Mark Zuckerberg Lost US$8 Billion

Thu, Sep 20, 2012, by UmiNoor

Social Networks

Mark Zuckerberg suffered the biggest loss in his personal fortune but he’s still a billionaire and is still in the list the richest man in the United States.

Last year, Mark Zuckerberg, the founder of Facebook, had a net worth of US$17.5 billion but over the past twelve months, his net worth had dwindled to US$7.5 billion; a loss of US$8.1 billion. He lost almost half of his estate after Facebook was listed on the stock market.

Image via CrunchBase

Forbes Magazine which listed the assets of the richest billionaires in the United States said that Zuckerberg is now faced with a complicated road ever since Facebook shares were offered to the public in May. Facebook share price fell to almost half of its opening offer price to just US$22.59 per share (as of 20th September, 2012). At the same time, Facebook is also faced with legal action which is expected to continue for several years to come. 

According to the list of The Richest People in America 2012 released by Forbes, Zuckerberg suffered the biggest losses than others on the list causing him to decline from 14th place last year to 36th place on the list. 

Upon analysis, Forbes said that Facebook had reported a discouraging performance and it reported a net loss of US$96 million in July thus pushing its share price to a lower level. 

Image via CrunchBase

Nevertheless, it is said that Zuckerberg’s personal fortune is still beyond ‘amazing’ and he remains committed to the company. The decline in his wealth should have no substantial effect on the CEO’s lifestyle.

Forbes is however not sure whether the young executive can navigate and make Facebook a successful public company. It is one thing to manage a website but another to manage a public-listed company. It seems that not many investors are confident to invest in Facebook with Zuckerberg as the CEO.

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1 Comments For This Post
  1. smokychristine Says:

    IT IS HARD FOR ME TO UNDERSTAND THE FACEBOOK PHENOMENA.

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