Sign in with
Sign up | Sign in

Zuckerberg Out of Top 10 Billionaire List; Execs Leaving FB

By - Source: Google Finance | B 26 comments

Startups, especially when they celebrate their debut on the stock market, are usually granted a grace period or, in more positive phrasing, a time we typically refer to as honeymoon.

Facebook's honeymoon appears to be over as the company is losing key employees and has settled almost 50 percent below the stock's original target price.

Facebook shares are trading these days around $21, significantly below the $38 offering price and below the $40+ many analysts originally expected. The company's market cap is far from the frequently discussed $100 billion. It has now settled around $45 billion, give or take a few hundred thousand dollars. For Zuckerberg, that means that he is now battling James Goodnight, co-founder of SAS Institute Inc., for tenth place of Forbes' richest people list. Zuckerberg and Goodnight both have a fortune of about $10.6 billion at this time.

Facebook is also dealing with an exodus of several critical employees. Following the IPO, Facebook has lost product management director Carl Sjogreen, CTO Bret Taylor, mobile platform marketing manager Jonathan Matus, as well as director of platform marketing Katie Mitic, and director of platform partnerships Ethan Beard.

 

Contact Us for News Tips, Corrections and Feedback

Display 26 Comments.
This thread is closed for comments
Top Comments
  • 29 Hide
    blingooron , August 10, 2012 3:03 PM
    If you go to #11, im returning your action figure to Walmart.
  • 25 Hide
    captainblacko , August 10, 2012 2:55 PM
    wow he's only worth $10.6b now. What a shame.
  • 22 Hide
    house70 , August 10, 2012 2:42 PM
    Oh, cry me a river!......
Other Comments
  • 22 Hide
    house70 , August 10, 2012 2:42 PM
    Oh, cry me a river!......
  • 25 Hide
    captainblacko , August 10, 2012 2:55 PM
    wow he's only worth $10.6b now. What a shame.
  • 29 Hide
    blingooron , August 10, 2012 3:03 PM
    If you go to #11, im returning your action figure to Walmart.
  • 7 Hide
    olaf , August 10, 2012 3:04 PM
    OH HOW SAD ! hope they go bellyup
  • 1 Hide
    lamorpa , August 10, 2012 3:13 PM
    Is this essential service undervalued?
  • 9 Hide
    rmpumper , August 10, 2012 3:14 PM
    Should have taken the 50 billion he was offered a while back.
  • 8 Hide
    blingooron , August 10, 2012 3:20 PM
    No wonder he pissed away the board meetings, he figured they were full of ****. Annnd good for him to stay with his wife, god knows hotness is chasing him down. Yes im super shallow
  • 7 Hide
    cookoy , August 10, 2012 3:31 PM
    Yeah, as if being out of the top ten list is that bad. More interesting is why those execs are jumping ship. We can only guess if journalists don't do the work for us.
  • 17 Hide
    del35 , August 10, 2012 3:44 PM
    The question remains, what has Zuckerberg contributed to technology and the Internet in general? All he seems to have done was create a network in almost complete imitation of existing social networks like Friendster and enhance its mass appeal by making it initially for "Ivy league graduates" only. The media went crazy promoting "genius" Mr Zuckerberg together with his network causing more and more gullible people to want to join it when face book eventually became democratized. Facebook is an embarrassment to civilization and so is Mr Zuckerberg. When facebook goes under, the way of Myspace, it will be a good riddance as better and more important networks exist that have received little or no attention from the narrowly owned "elite" media in the USA. I dare say the US media propaganda on "genius" Zuckerberg and his social network belong in the Annals of mass brainwashing.


  • -8 Hide
    spartanmk2 , August 10, 2012 4:06 PM
    This article isnt even worth commenting on.
  • 18 Hide
    Anonymous , August 10, 2012 4:14 PM
    spartanmk2This article isnt even worth commenting on.


    Yet you did!
  • 7 Hide
    Nakal , August 10, 2012 4:22 PM
    I just hope the Government does not think them "Too Big to Fail" lol
  • 3 Hide
    HDmac , August 10, 2012 5:07 PM
    Quick! Beat him while he's down! ;) 
  • 4 Hide
    Prey , August 10, 2012 5:12 PM
    NakalI just hope the Government does not think them "Too Big to Fail" lol

    Ya know I didn't even think about that, but the way our government works, I wouldn't be surprised :) 
  • 0 Hide
    d_kuhn , August 10, 2012 5:14 PM
    A few rounds of Friendszy Bingo and he'll be back on top
  • 11 Hide
    dalethepcman , August 10, 2012 5:42 PM
    Zuckerberg's colledge thesis "Plan to screw the bankers of the world."

    step 1 Steal idea from college friends to make kick ass online community, offer everything "free"
    step 2 get 1 billion users
    step 3 offer company to bankers for 100 billion $ IPO
    step 4 buy skull shaped island, equip sharks with lasers
    step 5 F up online community with paid services, advertisements and never ending security flaws
    step 6 make everyone quit company / fire everyone important
    step 7 ?!?!?!
    step 8 profit
  • 2 Hide
    kronos_cornelius , August 10, 2012 5:46 PM
    Congratulation to those that put their money where their mouth was and shorted Facebook.
  • 3 Hide
    fedelm , August 10, 2012 5:49 PM
    del35The question remains, what has Zuckerberg contributed to technology and the Internet in general? All he seems to have done was create a network in almost complete imitation of existing social networks like Friendster and enhance its mass appeal by making it initially for "Ivy league graduates" only. The media went crazy promoting "genius" Mr Zuckerberg together with his network causing more and more gullible people to want to join it when face book eventually became democratized. Facebook is an embarrassment to civilization and so is Mr Zuckerberg. When facebook goes under, the way of Myspace, it will be a good riddance as better and more important networks exist that have received little or no attention from the narrowly owned "elite" media in the USA. I dare say the US media propaganda on "genius" Zuckerberg and his social network belong in the Annals of mass brainwashing.


    Amen.

    We're lucky rich does not equal genius.
  • 0 Hide
    Gundam288 , August 10, 2012 5:51 PM
    dalethepcmanZuckerberg's colledge thesis "Plan to screw the bankers of the world."step 1 Steal idea from college friends to make kick ass online community, offer everything "free"step 2 get 1 billion usersstep 3 offer company to bankers for 100 billion $ IPOstep 4 buy skull shaped island, equip sharks with lasersstep 5 F up online community with paid services, advertisements and never ending security flawsstep 6 make everyone quit company / fire everyone importantstep 7 ?!?!?!step 8 profit


    You might want to add ether WMDs or owning the fed in there as things CAN go south real quick if the bankers find out what your up to!
  • 0 Hide
    robochump , August 10, 2012 8:45 PM
    So sad that FB execs are leaving and to know they were only there for the IPO money. lol
Display more comments