The drastic fall in the share price of Facebook has significantly eroded the personal wealth of its 28 year-old co-founder Mark Zuckerberg by a massive USD 4.5 billion in just three weeks.
Zuckerberg's fortune has declined to USD 11 billion from USD 15.5 billion on May 18 when the company went public as investors have dumped the stock amid concerns over growth prospects of the social networking giant, according to the data available with stock exchanges.
Within three weeks of making an entry into the secondary market, the stock value of the company has collapsed by about 29 per cent to USD 27.10 apiece on Friday from USD 38 on debut.
Zuckerberg's about 408 million shares were valued at USD 15.5 billion based on debut price of USD 38. However, on Friday's closing price of USD 27.10 apiece, his wealth has shrunk to USD 11 billion, a erosion of around USD 4.5 billion. Read More
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