Mark Zuckerberg, CEO and founder of social network platform Facebook, has dropped out of the world’s 10 richest technology billionaires, following his company’s dramatic market collapse since listing in May.
Facebook dropped below $20 on the Nasdaq on Thursday (16 August) after the group freed up 271.1 million of its shares, boosting by 60% the number of tradable shares.
According to Bloomberg, Zuckerberg’s fortune is based on his ownership of 503.6 million shares of Facebook, including 60 million options that have an exercise price of six cents a share. He also has about $150 million in cash and other liquid assets.
Facebook has seen its down almost 50% from its listing price of $38 and a valuation exceeding $100 billion making it the worst performer among all large IPOs on record, according to data compiled by Bloomberg.
Zuckerberg’s fortune has dipped to a figure approaching $10 billion, putting him behind James Goodnight, the co-founder of software maker SAS Institute Inc., who now ranks as technology’s 10th- richest person, according to the Bloomberg Billionaires Index.
As of 16 August, telecoms Mexican mogul Carlos Slim Helú tops the Bloomberg Billionaires Index overall, with a fortune of $74.8 billion, up 21.4% on a year to date basis.
He maintains holdings in telecommunications (America Movil), banking (Grupo Financiero Inbursa) and mining (Minera Frisco), as well as Philip Morris, Saks Fifth Avenue and the New York Times.
Through his family’s holding company, Grupo Carso, Slim also has a stake in the Mexican construction industry.
Gates is a co-founder of Microsoft, and owns about 6% of the technology giant – a stake that now represents about a quarter of his overall wealth. Gates also owns a private investment company, Cascade Investment.
Oracle CEO Larry Ellison is fifth on the list, overall, but second on the tech list with a fortune of $40.8 billion, up 23.7% on the year to date.
Top 10 Tech Billionaires
|#||Name||Est. Net Worth|
|1||William Henry Gates III||$63.4 billion|
|2||Lawrence Joseph Ellison||$40.0 billion|
|3||Jeff Bezos||$21.7 billion|
|4||Larry Page||$20.2 billion|
|5||Sergey Brin||$20.1 billion|
|6||Paul Allen||$14.8 billion|
|7||Steve Ballmer||$14.7 billion|
|8||Azim Premji||$14.0 billion|
|9||Michael Dell||$13.4 billion|
|10||Jim Goodnight||$11.2 billion|