Zuckerberg ‘biggest dollar loser’ on Forbes 400 list following Facebook’s lackluster IPO

Zuckerberg ‘biggest dollar loser’ on Forbes 400 list following Facebook’s lackluster IPO	Sydney, Sep 20 : Facebook co-founder Mark Zuckerberg is possibly `biggest dollar loser' in Forbes'' latest ranking of the 400 wealthiest Americans after he fell from No. 14 to No. 36 on the list, thanks to the social website's lackluster IPO in May.

The highly-touted IPO, which witnessed a debacle on the New York Stock Exchange (NASDAQ), resulted in a huge drop in Facebook's market value and cut the value of Zuckerberg's shareholdings to almost half, costing him 8.1 billion dollars in net worth.

Microsoft Corp. co-founder Bill Gates continues to remain the richest American by far, as he took the top spot on `The Forbes 400' list for the 19th consecutive year, with a net worth of 66 billion dollars, the News. com. au reports.

According to the report, investor Warren Buffett, the head of Berkshire Hathaway Inc., again took second position on the list with 46 billion dollars, while Oracle Corp. co-founder Larry Ellison remains third with 41 billion dollars and brothers Charles and David Koch, co-owners of Koch Industries Inc., tied for fourth with 31 billion dollars.

The Forbes 400 list, which ranked the wealthiest people in the United States, said that the rich mainly got richer in 2012, with net worth rising for 241 members of its list and shrinking for only 66. Rising stock prices, a rebound in real estate values and rare art prices also helped, the report said.

New York City Mayor Michael Bloomberg, who made his fortune with the financial data services firm Bloomberg LP, is also back with the top dogs at No. 10 with an estimated net worth of 25 billion dollars, it added.

The top 10 people on the Forbes 400 list are:

Bill Gates - 66 billion dollars Warren Buffet - 46 billion dollars Larry Ellison - 41 billion dollars Charles Koch and David Koch - 31 billion dollars Christy Walton and family - 27.9 billion dollars Jim Walton - 26.8 billion dollars Alice Walton - 26.3 billion dollars S. Robson Walton - 26.1 billion dollars Michael Bloomberg - 25 billion dollars (ANI)


Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate

Popular Stories

India-Uganda bond reflects relationship of heart, mind: Hamid Ansari

Kampala (Uganda) Feb. 24 : Emphasizing the bond... Read More

BSP should introspect before talking about terrorism: BJP

New Delhi [India] Feb. 24 : Hitting back at Bahujan... Read More

India- Uganda condemns all forms of terrorism

New Delhi [India], Feb.24 : India and Uganda, in a... Read More

Out of fear of losing, PM Modi resorting to hate politics: Rahul Gandhi

Amethi (Uttar Pradesh) [India], Feb 23 : Unleashing... Read More

Six killed after bus collides with truck in Uttar Pradesh's Hardoi

Hardoi (Uttar Pradesh) [India], Feb.23 : At least... Read More