Facebook Fails again

Well, it looks like Mark Zuckerberg and Facebook just can't catch a break. After the whirlwind opening and crash Facebook's stock has been about as unstable as it can be and is still loosing. Today Mark Zuckerberg's fortune fell to 14.7 billion from 16.7 billion putting his total stock losses at 24% from the worst initial public offering in the last 10 years.

It seems there was just to much stock issued and that the valuation to agressive and a lot of the people that lined up to buy never intended to hold onto it. Facebook shares closed at $38.23 on May 18th, the first day trading began giving Mr Zuckerberg a net worth of $19.4 billion. MR. Zuckerberg is now 800 million dollars behind the lowest rung on the top Bloomberg Billionaires Index held by Luis Carlos Sarmiento with a total worth of $15.5 billion

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