Mark Zuckerberg’s rough week

It ain’t easy being Facebook CEO Mark Zuckerberg:

Facebook stock continues to tumble since its ill-fated IPO two weeks ago. Shares are down more than 3 percent today, into the $27 range, down more than 28 percent from its IPO price. That’s knocked more than $5 billion off Zuckerberg’s net worth in the past two weeks, and bumped him from Bloomberg’s Billionaire Index of the world’s 40 richest people. Just think, with that $5 billion he could have built his own Great Pyramid. Zuck can probably afford the drop in prestige though — he’s still worth somewhere in the range of $14.7 billion.

• Meanwhile, the 14.7-Billion-Dollar-Man is facing an international kerfuffle over his lack of a tip at a restaurant in Rome. Now Zuckerberg, who is honeymooning in Italy with his wife, Priscilla Chan, is being called a cheapskate after not leaving a gratuity for a 32-euro (about $40) meal. But don’t those crazy Europeans frown on tipping? Ehh, not so much these days — Fodor’s Italy travel guide recommends leaving a 10 percent tip, as does Conde Nast Traveler, though Lonely Planet notes that tipping is nice, but not obligatory. Hopefully he overtipped his cabbie to make up for it.

• If that’s not enough, a British tabloid is also calling Zuckerberg cheap for only shelling out $25,000 or so for the engagement ring he gave to Chan. The Mail makes a note of the “very simple” ruby ring and asks “What happened to three months’ salary, Mark?” In Zuck’s defense, while his salary will be about $600,000 this year, in 2013 it’ll drop to $1 a year, so saving now isn’t a bad idea. And he did personally design the ring, which wins bonus points.

On top of all that, Zuckerberg and Facebook are being sued by investors, rumors of a Facebook smartphone are being mocked and Facebook is starting to be seen as uncool by tweens. Man, it’s enough to make a guy want to hide his face in the hood of his sweatshirt.

 

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  • andrew

    Who cares about how he spends his $? Not our problem. And the IPO was a SUCCESS – it raised maximum dollars for FB.

  • Roger Draper

    “Rough week”? Wish I had a buck for everybody on the planet, or just everybody in the Valley, who’d be willing to suffer such a week.

  • Five billion $ to build the Great Pyramid (and comments closed at the link – no surprise there). First, where are you going to locate a 6 million ton stone building with no sinkage for thousands of years, without Earth-penetrating radar? How are you going to drill the angled holes with such precision inside? You might ask the folks who built the Eiffel Tower or Empire State buildings – the first such tall structures in the world in the 4,400 years between the Great Pyramid and the modern buildings which reached comparable heights. No, given the ancient Egyptians’ tools it would cost a trillion $ to build the Great Pyramid today, IF you could keep it from sinking, IF you could drill the perfect tunnels/holes, IF you could get the 80-ton granite stones up to the king’s chamber, etc. etc. It’s so impossible to do that they have to imagine theories about it.

 
 
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