Mark Zuckerberg has slipped off the top 40 list of billionaires due to the rapid slump in Facebook’s share price after its initial public offering (IPO) of $100 billion.
The list saw Zuckerberg drop by nine percent to $14.7 billion from $16.2 billion after only one week of launching his brainchild’s IPO, which valued at around $100 billion.
Facebook’s share price staggered down since last week and the historic hundred-billion-dollar IPO is now only a $70 billion reality, where the $38 share price spiraled downwards to a sub-par $29.
Bloomberg Billionaires Index ranks the world’s top 40 billionaires, where Mexico telecom mogul Carlos Slim remains the richest, followed by Microsoft founder Bill Gates at second place.
Based on figures from the list, Zuckerberg’s $16.2 billion would have placed him at a comfortable 34th place, whereas a relatively poor $14.7 billion has him at a modest chunk below Colombian moneyman Luis Carlos Sarmiento.