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Zuckerberg sees fortune shrink by $6.8 bn since botched IPO

Last Updated: Monday, November 12, 2012 - 13:02

London: Social networking giant Facebook’s CEO Mark Zuckerberg has seen 6.8 billion dollars wiped from his fortune in a year, according to a report.

The inaugural list of the world’s richest people by Bloomberg Markets Magazine showed that Zuckerberg, 28, is now worth an estimated 10.7 billion dollars.

According to the Daily Express, the list’s richest man is Carlos Slim, the Mexican telecoms billionaire who has a net worth of 77.5 billion dollars.

Bill Gates and Warren Buffett, both in the top five, are household names.

Yet nobody racked up billions faster than relatively unknown No 3, Amancio Ortega of Spain, the report said.

According to the report, Facebook had its market debut in January, but was criticised for being priced too high.

It is now trading at nearly half the float price of 38 dollars a share.


First Published: Monday, November 12, 2012 - 13:02
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