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Mark Zuckerberg

Running Out of Cash

5/30/2012 8:50 AM PDT BY TMZ STAFF

Mark Zuckerberg at an ATMMark Zuckerberg desperately needed to refill his wallet in Italy yesterday -- stopping by an ATM on the island of Capri ... after losing $1.5 BILLION on his plummeting Facebook stock ... in a matter of hours.

Facebook shares dropped 9.6% yesterday, finishing at a new low of $28.84 -- reducing Mark's net worth from $16.2 billion to $14.7 billion. All told, yesterday's drop raised the stock's losses to 24 percent ... making it the worst-performing large IPO in the last decade.

Yesterday's drop also cost Mark his spot on the world's 40 richest people list.

Something tells us he still had a few Euro in his checking account.

69 COMMENTS

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1.

Chillin    

He will be just fine , lets face it his is very smart at what he does ..

786 days ago
2.

Jack    

I'm sure that reassures shareholders to see him on vacation when their stock holdings are sinking quicker than the Italian economy.

786 days ago
3.

chucklehead    

facebook is really stupid. i cannot think of one person in the whole world who i would follow or "friend" on facebook. face it people you are not that interesting and neither am i.

786 days ago
4.

London Vik    

TMZ. Please dont forget to inform me when he takes a dump

786 days ago
5.

John_Dunkel    

first of all you don't lose money if you create it out of thin air in the first place... second of all did anyone ever made the connection that when Facebook showed up on the radar the economy crashed? Might have something to do with people stopped being productive since they started checking their Facebook at work all the time.

786 days ago
6.

DaveT    

Glad I listened to the professionals and didn't buy Facebook shares.
Not that I wasn't tempted, I don't blame people for buying in, it did have a shiny face on it and was made to look like it would make people some money.
But casinos have flashing lights and loud bells too, when we all know we're going to put $60... in that slot machine and lose it all in about 5 minutes :D

786 days ago
7.

Itoldu    

They dress like they're homeless people.
Also I heard they don't tip extra in restaurants,past the already added gratuity.
Those two need supervision......

786 days ago
8.

LAUGHS AT YOU    

LOLOL

Ummm...he didn't "lose 1.5 billion." Stock value is only realized when it is sold and price is mostly based on the market's perception of its value (especially when its price is traded on emotional value like Facebook). If you were to post a story every time sometime with significant paper worth were to have a change in the traded value of their stocks, you wouldn't have any room to post stories about loser celebrities. If he were to cash out his stock right now he would not be able to get anywhere near that value on the open market, but then you could post a story on how much he "lost" when he sold it.

In any case, he is laughing at all the fools who jumped on the bandwagon that are now clamoring to be saved from their own stupidity through the courts. Zuckerberg smartly cashed out on a bundle at the time of the IPO to cover his own costs - you don't think he gets it?

What Zuckerberg is the smartest at is in marketing his product to the investment community and the public. There's one born every minute.

LOLOL

786 days ago
9.

Amber    

Really, leave the guy alone, already!!! He's on his Honeymoon!!!!! Sheesh!

786 days ago
10.

MMB    

On another note... I love his wife! Don't know her but I like her style. She is obviously very down to earth. I like the realness that permeates from her.

786 days ago
11.

MIKE    

All the money in the world and neither one of them have any class.They dress like homeless people.

786 days ago
12.

MP    

I would hate being stalked by paparazzi on my honeymoon, famous or not. Talk about low class.

786 days ago
13.

Quinn Stone    

How will he ever survive on $14.7 billion?

786 days ago
14.

Sandi    

well a couple things.. first of all IPO's usually do poorly for the first while, experienced traders are likely waiting for the 6month to 1 yr mark to invest.. but you can bet in 10-20 yrs long term people will make alot of money. With all the things they have coming down the pipe it will increase for sure. Also am i crazy or does his wife look like a bag women.. these 2 take living like poor people to a whole other level..

786 days ago
15.

Truth    

TOLD YALL FOOLS.... LIKE I SAID, THIS STOCK WAS GONNA SUCK LIKE THE REST OF THOSE INTERNET BUBBLEHEADS IN THE FIRST NET CRASH. DINT I SAY SHORT SELL CALL DERIVATIVES AND BUY PUTS ON THIS SH*T!?? YEA, I DID SAY THAT. #WINNER #TRUTH!!

786 days ago
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