In spite of (or because of?) his protestations last year, Forbes continues to insist that His Royal Highness is worth 50% less than the prince insists he is, thereby denying him his rightful place alongside (and preferably ahead of) Mark Zuckerberg (#21 with $28.5 billion). Instead, Alwaleed (#30 with $20.4 billion) has again been put with the losers who inherited the Mars candy fortune (numbers 31 with about $20 billion each), a few billion behind Carl Icahn (#25 with $24.5 billion) and George Soros (#26 with $23 billion).
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Andrew Ross Sorkin has a preliminary roster of no-shows and their excuses for sending their regrets, generally some form of “it’s a ridiculous display of ostentation and an enormous waste of time.” Read more »
Fox Business Correspondent’s Drink Offer Brutally Rebuffed By Facebook CEO Despite Similarly Casual AttireBy Bess Levin
And after a late entrance, Mr. Zuckerberg also showed up, alongside his friend Drew Houston, the chief of Dropbox. Clad in his uniform gray shirt and jeans, Mr. Zuckerberg made a quick beeline for Duchin, but not before Dennis Kneale of Fox Business Network managed to get in a few words. “Can I buy you a vodka gimlet,” the boisterous Mr. Kneale asked, also dressed down in a short-sleeved black top and worn-in sneakers. The Facebook billionaire, whose stake is still billions of dollars, politely demurred, “I’m good, thanks.” [Dealbook]
In snaring the most coveted investment-banking assignment of the year, Morgan Stanley’s Michael Grimes insisted to a senior Facebook executive that he be the “single driver” of the company’s initial public offering, adding that if the deal soured, it would be his “throat to choke. [WSJ]
No large U.S. company is attracting more attention from short sellers than Facebook, amid bets the world’s biggest social-networking company will keep falling after losing $27 billion since its initial public offering. Short interest on the Menlo Park, California-based company reached 5.9 percent of shares outstanding, according to data compiled by Bloomberg and Data Explorers Ltd., a New York-based research firm. None of the Standard & Poor’s 500 Index companies with at least $50 billion in market capitalization has short interest higher than 3 percent, the data show. Facebook, which has a market value of about $63.8 billion, isn’t in the S&P 500. [Bloomberg]
Is that how it is? Read more »