AfterDawn: News

Mark Zuckerberg losing $16 million an hour after failed IPO

It took just under 2 weeks for Mark Zuckerberg to fall well off the 40 richest billionaires list.

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

• Previous article

• Google launches first ChromeOS-based 'Chromebox'

• Next article

• Sony, Microsoft confirm: PS4, Xbox Next will have optical drives

• 19 comments

• flyingpen

  "lol"
  

  Carpe Noctem

  30.5.2012 20:03 #1

• RichardvonBacon

  Can you spell b-u-b-b-l-e...

  30.5.2012 20:33 #2

• TBandit

  Big risk Big loss

  30.5.2012 22:30 #3

• flyingpen

  I'm sure it will bounce back, but for now this is fucking hilarious
  

  Carpe Noctem

  30.5.2012 22:51 #4

• hearme0

  Originally posted by flyingpen: I'm sure it will bounce back, but for now this is fucking hilarious If I call you a name for making such a ridiculous and meritless statement then I'll get banned so I won't. Not gonna "bounce back" most likely.
  
  FB shouldn't be worth much at all considering ad revenue generated is superficial because it makes FB money but no one I know EVER EVER EVER clicks ads and I'd bet that the companies that do advertise on FB probably don't see much business. However.........they continue to pay high prices to list on Facebook's clusterfuc*ed, unflowing and time-wasting website.

  31.5.2012 00:50 #5

• Joe_1981

  I don't know why he didn't sell facebook long ago. Why hold onto it and risk it losing more value? What, you have to keep it so you can be known as the owner of facebook? Why don't you sell that shit and be a guy with 20 billion dollars. You can invest in anything you want. Why hold onto facebook? Stupid, if you ask me.

  31.5.2012 02:54 #6

• Mrguss

  After this Wall-Street butchering. Are you want to help M. Fuckerberg Free-fall? Just delete your Fakebook Acc. lol :)
  

  +5000

  31.5.2012 04:23 #7

• sinkmoscow

  Uhh...16million?Ohh my god..

  31.5.2012 09:53 #8

• ConcernedMother

  :D
  
  Now I know schadenfreude is not aways a bad thing. Time to rewrite the bible.
  

  31.5.2012 10:34 #9

• Blackloz

  I would have cashed out on day 1

  31.5.2012 10:49 #10

• dEwMe

  Originally posted by Mrguss: After this Wall-Street butchering. Are you want to help M. Fuckerberg Free-fall? Just delete your Fakebook Acc. lol :) Ha! I did a year or so ago but somehow they brought it back. Guess that's one way to keep your numbers up but I haven't been on there since I closed it. Fakebook is a joke and as embarrasing as saying you had an AOL account back in the day...
  
  

  Just my $0.02,
  
  dEwMe

  31.5.2012 14:11 #11

• Mysttic

  He still has enough bills to wipe his a$$ with currently. Not trying to be offensive, just stating.

  31.5.2012 14:25 #12

• ronhondo

  Soon this thief will be broke !

  31.5.2012 17:31 #13

• xaznboitx

  so is he still going to try to buy browser and make fb phone?
  

  31.5.2012 18:50 #14

• ivymike

  Hopefully, he'll leave Opera alone and concentrate on propping up his faceburp website. We don't need another MySpace Tom.

  31.5.2012 20:04 #15

• xaznboitx

  Originally posted by ivymike: Hopefully, he'll leave Opera alone and concentrate on propping up his faceburp website. We don't need another MySpace Tom. Using RockMelt, it uses FB so no point using Opera... I started using RockMelt because Firefox keep freezing up and using way too much ram since FF 19th build came out even though they claim that FF uses less ram... right now my pc never warn me that it uses too much ram withe ff it warns me every time and it's faster. I found about it from afterdawn, so the banner :)
  

  31.5.2012 21:32 #16

• KillerBug

  I don't feel bad for him at all...he still has more money from this than he deserves. Also don't feel bad for investors that lost money...it was obvious this would happen, I am just amazed the stock price is still so high.
  

  
  

  1.6.2012 07:32 #17

• Paul2274

  Gee.... Doesn't that really make him a 1%er that people should hate?? Come'on you double standard people... even hating needs to have equality ;-)

  1.6.2012 22:24 #18

• xboxdvl2

  technically he hasnt lost a cent the value of his product has gone down.no different to when you buy a car and find out a year or so later its not worth as much as you paid for it anymore.
  
  @xaznboitx sounds like a ram issue with your computer not with ff.im using win 7 (64bit) with 4gbs ram and ff runs fine on mine.anyway this is going offtopic post in general forums if you want advice on ram.
  

  R.I.P. mr 1990 ford falcon.got myself a 1993 toyota corolla seems to run good.computers still going good.

  2.6.2012 03:38 #19