It isn’t easy being the founder of a company that sorely disappoints Wall Street.
Facebook's Mark Zuckerberg has seen his personal fortune plunge along with Facebook’s in the difficult aftermath of the initial public stock offering that did not live up to its considerable hype.
The result: Zuckerberg is now only tied for the 36th richest person in America in the latest ranking from Forbes. His holdings in Facebook have lost about half their value, or about $8 billion in net worth, so he slipped from No. 14 on the list.
Before you shed a tear for Zuckerberg, remember this: He’s still worth an estimated $9.4 billion, Forbes says.
At the top of the heap? He may be old school in the high-tech world that loves to embrace the new, new thing, but Microsoft co-founder and philanthropist Bill Gates ($66 billion) still holds the honor of being the nation’s richest man. Among the high-tech set, Oracle co-founder Larry Ellison came in third with $41 billion.