Mark Zuckerberg Has First Winning Day As Facebook Shares Finally Tick Up
Mark Zuckerberg was the big winner in the markets Thursday as Facebook shares finally reversed their two-week nosedive.
The stock closed Thursday at $29.60, a relatively small step up from Wednesday’s close of $28.19, but a victory nonetheless. Since the social network debuted at $38 a share on May 18, shares have been dropping daily. Zuck must be breathing a little easier in his hoodie now that he’s worth an additional $685 million.
But it was an up-and-down kind of day for the Facebook billionaires. At midday, around 1:34 p.m. Eastern time to be precise, Zuckerberg was the second biggest loser of the billionaires we track, down $611 million. Also around that time, fellow Facebooker Dustin Moskovitz was down $168 million. But like Zuck, Moskovitz ended the day a richer man, his net worth up $188 million.
Jeff Bezos was the day’s second-biggest winner, up $324 million as Amazon agreed to collect state sales tax in New Jersey from customers in that state, where it is building two new distribution plants. Thursday was also a good day for Larry Ellison: he gained $303 million as tech news site CRN reported that Oracle had snapped up Gary Koopman, former vice president of U.S. distribution at Hewlett Packard, as the company’s group vice president of North America hardware and channel sales.
The world’s richest man, Carlos Slim Helu, was Thursday’s biggest loser as his America Movil shares dropped 1.8%. That’s not much of a change, but Slim owns a lot: at market’s close he was $711 million poorer than the day before. Sheldon Adelson, Republican presidential contender Mitt Romney’s potential odd political bedfellow, was the second biggest loser of the day; shares in his Las Vegas Sands dropped 3.4%, taking his net worth $604 million lower. He’s probably not too worried about it, since his stakes of his three largest holdings are still worth $19.9 billion.
All in all, Thursday was a more normal day in the markets than Wednesday, when all but two billionaires lost big money. Thursday’s trading finished with 33 billionaires worth less than Wednesday, and 17 worth more.
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