Rich Kid Mark Zuckerberg Out of Top 10 Billionaire List Amid Facebook's Falling Stock

Facebook founder Mark Zuckerberg isn't about to go stand in a soup line or hover on a street corner with a cardboard sign that reads, "Will write code for food," but among an elite class of tech billionaires, he now finds himself on the outside looking in. Well, sort of.

As shares of Facebook continue to fall, so too does Zuckerberg's fortune. Four days ago, Facebook's stock fell to $20.04 (it's currently at $21.86, and dropping), bringing Zuckerberg's worth down to $10.2 billion. That kicked him out of a list of the world's ten richest tech billionaires, sliding him into 11th place behind James Goodnight, co-founder of SAS Institute Inc., who ranks No. 10 and is worth $10.6 billion.

Mark Zuckerberg with Obama

Zuckerberg's place among the tech industry's wealthiest individuals is mostly academic and will continue to fluctuate, but more importantly, it underscores the challenges he faces in keeping his social network attractive to investors. Facebook's IPO price was $38, a disappointing figure considering all the hype that led to the social networking site's IPO, and it's only gotten worse since then. It also didn't help matters when Facebook fessed up to having some 83 million fake accounts, which is representative of nearly 9 percent of its user base.
Via:  Bloomberg
Comments
rapid1 2 years ago

Hmm I don't know he is still a billionaire at a very young age compared although I think Facebook is going down I remember when it was nothing next to Myspace as well and most people would just say whats Myspace so we will have to see. The G+ seems to be growing steadily and adding more useful features as the week goes by also maybe they will ground Facebook soner or later. It will sure be later as it looks right now. I was astounded last week when there was an article about peoples profiles on Facebook being fake. How many people look at some one named Steves account where the picture is a Blond with triple E honkers and assume it is real though obviously a lot if that is news.

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