Zuckerberg falls from tech’s wealthiest as Facebook shares wilt

NEW YORK — Facebook co-founder Mark Zuckerberg is no longer among the world’s 10 richest technology billionaires.

The 28-year-old’s fortune dropped by $423 million Thursday as shares of the world’s largest social media company fell 4 percent to $20.04 in New York, a record low. Zuckerberg is now worth $10.2 billion. He is about $400 million behind James Goodnight, the co-founder of Cary, N.C.-based software maker SAS Institute, who now ranks as technology’s 10th- richest person, according to the Bloomberg Billionaires Index.

“From an emotional standpoint, he might care,” said Ron Florance, managing director of investment strategy for Wells Fargo Private Bank, in a telephone interview from Winston-Salem, N.C. “He’s much more worried about maintaining Facebook’s market share in the social media space than the day- to-day valuation swings of his company stock. He’s not worried about going broke.”

Facebook shares have fallen 47 percent from their initial public offering price of $38. The Menlo Park, Calif.-based company last week reported earnings that showed slowing revenue growth.

Larry Yu, a company spokesman, didn’t respond to a phone call requesting comment.

Zuckerberg’s fortune is based on his ownership of 503.6 million shares of Facebook, including 60 million options that have an exercise price of 6 cents a share. He also has about $150 million in cash and other liquid assets.

Goodnight, 69, co-founded SAS in 1976, and is worth $10.6 billion. The company is the world’s largest closely held software maker and generated revenue of $2.7 billion in 2011, up 12 percent in a year.

SAS is valued at $15.8 billion, according to data compiled by Bloomberg. The valuation is based on the average enterprise value-to-earnings before interest, tax, depreciation and amortization multiple of five publicly traded peers. A premium has been applied, based on recent transactions in the software industry.

Microsoft co-founder Bill Gates is the richest technology billionaire in the world with a net worth of $61.6 billion, according to the index.