The start of 2016 for the CEO of Twitter and Square Jack Dorsey couldn’t have gotten out to a more dismal start as he’s seen both of his company’s stock prices drop to all-time lows. Within the last 12 days of trading, Dorsey’s losses on both companies have totaled just under $500 million. On Wednesday morning, Twitter’s stock fell 7% reaching an all-time low of $15.52 a share. Dorsey, who is Twitter’s sixth largest stakeholder with a 3.2% stake, has watched the stock price drop nearly 35% since the beginning of 2016. This translates into over $165 million in losses as of Wednesday morning.
Square, the mobile payment startup Dorsey founded that went public last November, has also dropped 35% since the beginning of 2016. Square’s stock dropped over 11% on Wednesday and is now trading below its IPO price of $9 a share.
Square has made a much bigger dent in Dorsey’s net worth. Dorsey has a 20% stake in the company and has lost roughly $330 million so far in 2016 as a result.
A lot of investors have lost a lot of money in the stock market in a short amount of time. Not many can say they have lost almost a half a billion dollars in a few weeks time.Twitter Inc. (TWTR) Stock Price – 90 Days | FindTheCompany