UHNW Valuation Update- Twitter CEO And Two Co-founders Lose US$900 Million After Earnings Debut - KPTV - FOX 12

UHNW Valuation Update- Twitter CEO And Two Co-founders Lose US$900 Million After Earnings Debut

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Wealth-X

NEW YORK, Feb. 6, 2014 /PRNewswire/ -- Twitter CEO Dick Costolo and two of its co-founders, Evan Williams and Jack Dorsey, collectively lost US$900 million, according to a Wealth-X estimate, after the San Francisco-based micro-blogging company released on Wednesday its first earnings report since it went public in November last year.

Investors saw weak growth in the number of active users on Twitter, pushing the value of its shares down by as much as 17% in after-hours trading.

The micro-blogging site had an average of 241 million monthly active users as of 31 December, 2013, up 30% year over year, and an average of 184 million mobile users in the fourth quarter of 2013, an increase of 37%.

But the growth of the user base has slowed, with Twitter adding only 9 million users in the final quarter of 2013.

Below are Wealth-X's estimates of the personal fortunes of Costolo, Dorsey and Williams at and after market close on 5 February, 2014:

Name

Net Worth At Market Close

Net Worth After Market Close

Dick Costolo

US$590 million

US$480 million

Jack Dorsey

US$2.7 billion

US$2.5 billion

Evan Williams

US$3.4 billion

US$2.8 billion

These estimates of the net worth of Costolo, Williams and Dorsey have been calculated after accounting for their shares in public and private companies, residential and passion investments such as art, planes and real estate, and is based on the most recent publicly available disclosure of their shares and options in Twitter.

About Wealth-X?

Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 12 offices on five continents. (www.wealthx.com)? ?

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
FOX 12
Powered by WorldNow CNN
All content © 2014, KPTV-KPDX Broadcasting Corporation, Portland, OR and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.