Facebook founder and CEO Mark Zuckerberg JUSTIN SULLIVAN/GETTY IMAGES The Facebook Inc co-founderand CEO, Mark Zuckerberg isno longer one of the world’s 40 richest people according to the Bloomberg Billionaires Index . The 28-year-old’s Billionaire’s fortune fell to$14.7 billion on Tuesday from $16.2 billion on May 25, about $5billion loss since Facebook started trading on May 18 It will be recalled that Facebook shares has been floundering since the popularsocial-networking company went public, Facebook stock has dropped 9.6 percent to$28.84 according to Bloomberg making it the worst- performing large initial public offering in the past decade. According to Jack Ablin, chief investment officer of BMO Harris Private Bank in Chicago: “It seems to be a clear reflection that there was justtoo much stock issued, that the valuation was aggressive and that a lot of people who lined up to buy it really had no intention of holding it,” BMO Harris Private Bank oversees about $60 billion of assets. Wall Street analysts still believe that Facebook’s stock price will still continue to slide before it can stabilize — this implies that the self made billionaire’s personal fortune could diminish further.
How low will Zuckerberg's fortune go? Justin Sullivan/Getty Images No. 1 on the list still remains the Mexican telecom czar Carlos Slim Helu, (net worth$67.9 billion), No.2 on the listis Microsoft Co-Founder Bill Gates ($60.5 billion) and Berkshire Hathaway CEO Warren Buffet ($44.7 billion). Colombian businessman Luis Carlos Sarmiento surpassed Zuckerberg to make the Bloombergindex, a list that isupdated daily. Luis is worth$15.5 billion
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