What would you do if you had US$420 million? A few new houses around the world? A helicopter, perhaps? Maybe a super car or a small aircraft to get you around. It’s a hell of a lot of money, especially if you lose it in one week.
Such is the wealth of Facebook CEO Mark Zuckerberg that he has managed to lose a staggering US$420 million in just one week as Facebook shares continued their steady tumble. Starting at around US$38, the shares climbed to above US$40 very briefly before beginning the fall. At the current time of writing, a share in the social media company would set you back just US$21.09. Either it is quickly becoming a very hot stock option, or this is a slice of a pie that no one wants a taste of.
All in all, it brings Zuckerberg’s estimated wealth down to a mere US$10.2 billion, which drops him out of the top 10 richest technology billionaire list, according to ITPro. By my calculations that means Trev almost has as much money as Zuckerberg, although I may have left off a zero somewhere in my calculations.
The pressure is now on Zuckerberg to keep his star shining, as technology wünder kid and partner Sean Parker managed to do as his reputation got put through the laundry post-Napster. Whichever way you look at it, it will be a long time until Marky Mark can compare to the US$61 billion of Bill Gates.
Damian Francis has previously edited Australian T3 and F1 Racing magazine and wrote for GQ Australia and Men’s Health. Unlike Nick and Trev, he has no kids, no mortgage and no wife, but lives happily on Sydney’s North Shore with his girlfriend.