By David de Jong - May 31, 2012 3:33 AM GMT+0700
Mark Zuckerberg, Facebook (FB) Inc.’s co- founder and chief executive officer, is no longer one of the world’s 40 richest people.
The 28-year-old’s fortune fell to $14.7 billion yesterday from $16.2 billion on May 25, as shares of the world’s largest social-networking company dropped 9.6 percent. They slipped another 2.3 percent today to $28.19. That extended the stock’s losses to 26 percent from the worst-performing large initial public offering in the past decade and cut Zuckerberg’s net worth to $14.4 billion.
Mark Zuckerberg, chief executive officer and founder of Facebook Inc. Photographer: David Paul Morris/Bloomberg
May 30 (Bloomberg) -- Mark Zuckerberg, Facebook Inc.'s co-founder and chief executive officer, is no longer one of the world's 40 richest people, according to the Bloomberg Billionaires Index. Linzie Janis and Mark Barton report on Bloomberg Television's "Countdown." (Source: Bloomberg)
May 29 (Bloomberg) -- Brian Wieser, a senior analyst at Pivotal Research Group LLC, talks about the outlook for Facebook Inc. He speaks with Emily Chang on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)
May 29 (Bloomberg) -- Bobby Heller, an options trader at On Point Executions LLC, talks about options trading in Facebook Inc. shares. Facebook fell to a new low, extending losses from the worst-performing large initial public offering during the past decade to more than 23 percent. Heller speaks with Matt Miller on Bloomberg Television's "Bottom Line." (Source: Bloomberg)
May 29 (Bloomberg) -- Tom Forte, director and senior research analyst at Telsey Advisory Group, talks about the outlook for Facebook Inc. and ways the social networking company can increase its mobile advertising revenue. Forte speaks with Adam Johnson on Bloomberg Television's "InBusiness." (Source: Bloomberg)
May 29 (Bloomberg) -- Walter Isaacson, biographer of late Apple Inc. co-founder Steve Jobs and chief executive officer of the Aspen Institute, talks about Mark Zuckerberg, chief executive officer of Facebook Inc., and the social networking company's stock performance. Isaacson speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)
May 30 (Bloomberg) -- Bloomberg's Betty Liu reports that Mark Zuckerberg, Facebook Inc.’s co-founder and chief executive officer, is no longer one of the world’s 40 richest people on the Bloomberg Billionaires Index. The 28-year-old’s fortune fell to $14.7 billion yesterday from $16.2 billion on May 25, as shares of the world’s largest social-networking company dropped 9.6 percent to $28.84. She speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)
“It seems to be a clear reflection that there was just too much stock issued, that the valuation was aggressive and that a lot of people who lined up to buy it really had no intention of holding it,” Jack Ablin, chief investment officer of BMO Harris Private Bank in Chicago, said yesterday in a telephone interview. The bank oversees about $60 billion of assets.
Facebook shares closed at $38.23 on May 18, the first day they began trading, giving Zuckerberg a net worth of $19.4 billion. The Menlo Park, California-based company ended the day with a price-earnings ratio of 83.1, making it more expensive than 99 percent of Standard & Poor’s 500 Index (SPX) stocks. The company went public as the equity index was heading for its biggest monthly decline since September.
Facebook options trading began yesterday, with volume for puts exceeding calls by 1.2 to 1, data compiled by Bloomberg show. More than 200,000 puts were traded yesterday, giving the holder the right to sell the shares at a specified price. June $30 calls were the most active contracts today, with volume at 22,896. They were followed by June $28 puts and June $29 puts.
To contact the reporter on this story: David De Jong in New York at ddejong3@bloomberg.net
To contact the editor responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net
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