Andrew Mason Is No Longer A Billionaire

groupon, nasdaq, ipo, bell ring, andrew mason, nov 2011

Photo: NASDAQ

Tough break for Groupon CEO and founder Andrew Mason: He’s no longer a billionaire.His 7.3% stake in the daily deals site is now only worth $783 million now that his company’s share price tanked after its IPO earlier this month.

Groupon shares traded as high as $30 the day of its IPO, but crashed through the IPO price of $20. At the end of its first day of trading, Mason’s stake was worth $1.2 billion.

Markets have erased nearly $9 billion in value from Groupon’s trading debut high of $30.

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