Tough week for technology giants.
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share value to several of the largest technology companies fell last week and it has been Hard beyond top bosses billion fortunes.
the Facebook boss Mark Zuckerberg is hit hardest. The share price of the world’s largest social network fell by 11 percent last week, writes Bloomberg.
reason is tepid response to the company’s acquisition of Oculus Rift. The fall cost Zuckerberg $ 3.1 billion, or 18.6 billion. Zuckerberg is one of the world’s richest, and 29-year-old has a fortune of about $ 27 billion, according to Bloomberg billionaire index.
Read more here (requires DN Plus): Playing goggles in Game
Taking Control – losing billions
Google founders Sergey Brin and Larry Page lost a total of three billion dollars, or 18 billion last week, after Google shares also fell.
decline came after the announcement that Google will issue 330,000,000 C shares without voting rights, a grip Brin and Page takes to cement its control over the company.
World’s online store, Amazon.com, announced last week that the company will cut prices for its cloud services. This came days after Google announced similar cuts. Cloud services, or cloud computing is a term for data storage on remote servers connected to the Internet. Amazon, Google and Microsoft offer such as server capacity in the cloud on an hourly basis.
price cut led to Amazon CEO Jeff Bezos’ fortune fell by $ 1.9 billion, or 11.4 billion.
Crushed by IPO
King Digital Entertainment is the gaming company behind the popular mobile game Candy Crush Saga. The company had its IPO (initial public offering) last week, but experienced the weakest price trend for an IPO since November last year. The share price plunged 20 percent in the first three days of trading.
cost King Digital boss Melvyn Morris $ 157 million, or 942 million.
Analysts have expressed skepticism about the company can replicate the success of other games than Candy Crush. In addition, there was uncertainty about how long the Candy Crush can maintain its popularity.
Tesa loss by fire investigation
A four-month investigation into fire risks in Tesla cars were completed last week. The company announced that it will now add new battery shield under the cars. This led to Tesla’s share price fell by seven per cent, and Tesla CEO Elon Musk fortune fell by $ 634 million, or 3.8 billion.
Despite last week’s declines, Musk has joined large as Tesla CEO. In February, his fortune up to $ 12 billion, according to Bloomberg billionaire index.
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