Zuckerberg's wealth steeps down @ $4.5 bn
July 10, 2012
Source: M M Network
Facebook owner, Mark Zuckerberg's personal wealth got effected as soon as the share price of Facebook significantly tumbled down recently. His wealth saw a loss of a massive USD 4.5 billion in just three weeks.
Zuckerberg's fortune has declined to USD 11 billion from USD 15.5 billion on May 18 when the company went public as investors have dumped the stock amid concerns over growth prospects of the social networking giant, according to the data available with stock exchanges.
Zuckerberg's about 408 million shares were valued at USD 15.5 billion based on debut price of USD 38. However, on Friday's closing price of USD 27.10 apiece, his wealth has shrunk to USD 11 billion, a erosion of around USD 4.5 billion.
The recent fall has also effected its market capitalization. The company's current market cap is about USD 58 billion. However, when the company went public, its market value was about USD 104 billion.
With 901 million users as of March 31, 2012, Facebook was actually planning to sell 337.41 million shares in the initial public offering (IPO) at a price between USD 28 and USD 35 per share.
At the last moment, the company had increased the size of the public issue by offering an additional 25 per cent stake and also raised stock price to a range of USD 34 and USD 38 a share.