The company's shares fell to $28.18 today, down from the $38 IPO price from May 18th, easily the biggest failure for an IPO of this nature in the last decade.
Zuckerbeg, for his part, has been losing about $16 million per hour of his fortune, which now stands at $14.4 billion. Of course, Zuckerberg still remains extremely, extremely rich, and has zero complaints, but his fortune has declined in the last week by a figure that is equal to the annual GDP of more than 20 countries on earth.
Facebook, as a company, started with a value of $104 billion but has since been torpedoed to its current $61 billion valuation which many believe is a lot more reasonable for the social networking giant.
Written by: Andre Yoskowitz @ 30 May 2012 19:07