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Mark Zuckerberg’s Fortune Drops $3.7 Billion In 2 Hours, Despite Facebook’s Strong Third Quarter

The Facebook homepage of Mark Zuckerberg is displayed on the Internet on December 15, 2010.  Zuckerberg, 26, has been named Time magazine's "Person of the Year" for 2010.  Zuckerberg is the CEO and co-founder of Facebook.  UPI
Facebook CEO Mark Zuckerberg shed $3.7 billion from his net worth in the two hours after the market closed on Wednesday, as the company’s stock price sank despite strong third-quarter results.

 

Zuckerberg’s fortune fell to $50.6 billion as of 6 p.m. Eastern time, according to FORBES estimates. He’s still the fifth-richest person in the world, according to FORBES, right behind Warren Buffett at number 4 and ahead of Mexican billionaire Carlos Slim Helu at number 6. When markets closed on Wednesday, Zuckerberg’s net worth was $54.4 billion.

This year’s previous two earnings reports were a boon for Zuckerberg’s pocketbook. After the company announced second-quarter results in July, a stock surge added $3.4 billion to his net worth in the hour after markets closed. In April, when first-quarter results were announced, he gained $4.2 billion within two-and-a-half hours after markets closed.

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