Jack Dorsey was supposed to step in and save Twitter while simultaneously serving as the CEO at newly public company Square.
In the last 12 days Jack Dorsey’s net worth in terms of “paper losses” between the two companies reached $500 million.
Dorsey’s stake in Twitter has plunged more than $165 million or nearly 35% since the beginning of 2016.
Twitter shares fell by 7% on Wednesday morning and hit an all-time low below $15.50 per share. Dorsey owns 3.2% of Twitter, making him the sixth largest shareholder in the company.
Square, now trading under the ticker SQ, went public in November and in the first several weeks of 2016 it has lost 35% of its value.
Square’s shares were down 11% on Wednesday and is now trading below its IPO price of $9.
Dorsey owns more than 20% of Square and his losses continue to mount.
The value of Dorsey’s Square stake has fallen by about $330 million in 2016.
I wouldn’t fret too much about Jack Dorsey’s net worth, he’s still probably way more rich than you.