Mark Pincus is the latest social-media CEO to become a billionaire – and then a former billionaire – in just six months.
This spring, when Zynga[ZNGA 2.48 -0.335 (-11.9%) ] shares were trading above $14.50 a share, Pincus’s 94.5 million shares were worth more than $1.3 billion.
Now, his shares are worth less than $250 million. That means his wealth has fallen by $1 billion in seven months, which works out to more than $4 million a day, or more than $200,000 an hour. His paper Zynga fortune has fallen by more than 80 percent.