Mark Zuckerberg lost more wealth in a single day than the entire market value of Molson Coors Brewing Co., or Nasdaq Inc. or Ralph Lauren Corp.
In fact, about 175 companies in the S&P 500 are worth less than the US$15.9 billion that vanished from the fortune of the Facebook Inc. (FB.O) co-founder as shares of the social-media giant plunged 19 per cent Thursday. Zuckerberg, 34, is now the world’s sixth-richest person with US$70.6 billion, down three rungs on the Bloomberg Billionaires Index.
The loss is the biggest one-day wipeout of individual wealth ever recorded on the ranking, which started tracking the world’s biggest fortunes in 2012.
Other big Facebook investors also took a hit as disappointing second-quarter results obliterated US$119 billion of market value, the most ever in a day for a U.S. company. Co-founders Dustin Moskovitz and Eduardo Saverin lost US$3.9 billion and US$2.2 billion, respectively, on the Bloomberg ranking, while Chief Operating Officer Sheryl Sandberg lost US$100 million.
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