|Facebook is the world's largest social networking website. It's founder Mark Zuckerberg is one of the youngest billionaires in the world history. At age 28, he and his four college friends created a social network that caters to nearly 1 billion users worldwide.|
Many here including myself have a social networking website or two. This is common among millions Americans addicted to the social norms of the online world.
The Facebook stock bust is a signal that even companies such as this could fail at a moment's notice.
Many point fingers at stock investors Morgan Stanley, Goldman Sachs and J.P. Morgan Chase. Some signaled inside trading before the bell. An illegal practice that gives a company's stockholders advancement of a stock. Whether the stock is a bull or bear, someone on the inside provides the details and an investor pulls out or stays in for the grand bargain.
The Democrats are already angered by co-founder Eduadro Saverin's denouncing his American citizenship to avoid paying his taxes. Senator Chuck Schumer (D-New York) and Senator Bob Casey (D-Pennsylvania) are hoping to get legislation passed to restrict corporations and their founders from shifting funding overseas with intent of leaving the United States without paying fair share. House Speaker John Boehner (R-Ohio) was thinking about a tax on people who denounce U.S. citizenship but it's likely the Republicans signal opposition to any legislation that advocates tax increases.
Some conservatives praised and supported Saverin's decision to leave the United States. Unbeknownst to some in the conservative media, this person is revoking his American citizenship for foreign alliances. Some call this patriotism, while others call this treason.
Just make sure you conservatives give the same treatment to those who denounce citizenship such as al-Qaeda leader Adam Al-Ameriki Gadahn.
But onto the issue at hand, Facebook's tumble. As I found out, Facebook is making milestones. The social network has surpass nearly 1 billion online users, more than its former rival MySpace combined. The chief operator of Facebook, Mark Zuckerberg comes out a billionaire when the stock went public.
Some investors are suing Facebook, JP Morgan and others for the drop.
The federal government is investigating the controversy as well.
But on the positive side of Facebook. All key members are leading happy lives.
Mark Zuckerberg marries his longtime girlfriend Priscilla Chan in a private ceremony a few days after taking Facebook public and a week after his 28th birthday. Zuckerberg has the majority of stock that gave him nearly $20 billion after Facebook's stock goes public.
Chris Hughes has invested in social networking websites outside of Facebook. Hughes is the most viable member besides Zuckerberg. He purchased The New Republic and Instagram, and is an activist of the GLBT community with his partner Sean Eldridge. Hughes makes a reasonable billion through his investments but is tight lipped on the stock amount totals he acquired through the public stock trade.
Sean Parker the former president of Facebook takes about $2 billion in shares through the public opening of Facebook.
Eduardo Saverin is going to obtain nearly $2 billion in shares through the public opening. Although he's celebrates with his co-founders, he became the scorn of American legislators. Democrats call upon a tax of people who reject their citizenship to avoid paying taxes.
Sheryl Sandberg the chief operations officer has made a reasonable sum of shares. The former president of Google, Inc. has made herself a rich person. Her shares total up to nearly a billion.
Facebook will continue to reign supreme as the world's largest social network. The founders are a true testimony of young innovation and the struggles and success of a business.