As head of Facebook, Zuckerberg lost $ 600 million per day
As head of Facebook, Zuckerberg lost $ 600 million per day
Head of Facebook social network Mark Zuckerbergis no longer on the list of forty of the world's wealthiest people, according to the August 2012 ranking of the well-known American economic magazine Forbes. Overnight, the condition of the former Harvard student fell by $ 600 million due to a sharp drop in the company's shares on the OTC market of the National Association of Securities Dealers Automated Quotation (Nasdaq).
Founded in 2004 and became the largest inworld, social network Facebook on May 18, 2012 launched the first public sale of shares (Initial Public Offering, IPO) with a price of placement of $ 38. According to the US agency Associated Press, at the beginning of the IPO, the joint-stock company was able to attract more than 16 billion, while the whole company was estimated at 104 billion. On the second day of trading, Facebook shares began to fall and soon reached a historic low of $ 19.69. Having played a part of the fall, Mark Zuckerberg's securities closed at $ 19.87 per share. Experts believe that the market situation could be affected by the expiry of the moratorium on the sale of 271.1 million shares of the social network for the company's employees and early investors. As reported in RIA-Novosti, this increased by 60% the volume of securities of Facebook, which can participate in transactions. The emergence of the social network Facebook on the May exchange was accompanied by various scandals. Due to technical problems, trading in the company's securities was delayed. Then among the market participants Nasdaq leaked information that some banks shortly before the IPO found out about the decline in the forecast for the annual profit of Facebook and reported this only to some selected customers. A group of investors sued the social network and the organizers of the IPO, accusing the defendants of inflicting damage on them. The 28-year-old founder and head of the popular online platform Mark Zuckerberg is the largest shareholder in Facebook. The list of key shareholders includes the Accel Partners venture fund, the Russian-British DST group and the ex-employee of the social network Dustin Moskovits. According to Bloomberg's analytical index, Zuckerberg's fortune is currently estimated at 10.2 billion dollars - the lowest figure for him since the IPO. Since the start of trading, the value of share holdings also fell significantly among other Facebook founders. So, for the summer of 2012, Dastin Moskovits lost about 2.4 billion dollars; the cost of the stake in Eduardo Saverin decreased by $ 960 million; Christopher Hughes lost about $ 400 million in the Nasdaq market. The author of the work "The Facebook Effect" David Kirkpatrick told Bloomberg that the market is not sure about the future of the social network. However, he believes that the head of the online network is not too worried about reducing their welfare.
