Zuckerberg admits Facebook stock rollercoaster has been 'painful' to watch (+video)
(Read article summary)With Facebook stock at an all-time low, CEO Mark Zuckerberg has issued a rallying cry to his employees.
These are grim days for Facebook: stock is tumbling, investors are backpedaling, and the personal fortunes of the Facebook founders are shrinking. According to Businessweek, Facebook CEO Mark Zuckerberg is now worth $10.2 billion, down approximately $10 billion since the social network first went public. Meanwhile, co-founder Chris Hughes is now worth $437 million, down by $400 million at the time of the IPO.
In a companywide meeting this month, Zuckerberg acknowledged that the stock fluctuations were "painful" to watch, the Wall Street Journal reports. "Mr. Zuckerberg went on to tell employees that the press doesn't know the company's future plans, and if they did, they would have the same faith in Facebook's ability to fulfill its lofty stock-market valuation," adds Shayndi Rice of the Journal.
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