UHNW Valuation Update - King Digital Chairman and CEO Lose US$230 Million From Weak IPO Debut

NEW YORK, March 26, 2014 /PRNewswire/ -- The chairman and CEO of King Digital Entertainment, which produces the hit online game Candy Crush, collectively lost US$230 million on Wednesday as a result of the company's weak performance in its first day of public trading, according to a Wealth-X estimate.

The firm's stocks fell 16% from its IPO price of US$22.50 to close at $19.00 on its first day of trading on the New York Stock Exchange on Wednesday, the biggest percentage decline of a newly listed company in the United States in over four months.

Although there are more than 180 "game IPs" in the King Digital library, Candy Crush has proved to be the company's money-maker with 97 million daily active users, according to the IPO prospectus. Candy Crush accounts for 78 percent of King's sales. King's other popular games include Farm Heroes Saga and Bubble Witch Saga, each of which has fewer than 20 million daily users.

Below are Wealth-X's estimates of the personal fortunes of King Digital Entertainment chairman Melvyn Morris and CEO Riccardo Zacconi:

These estimates of the net worth of Morris and Zacconi have been calculated after accounting for their shares in public and private companies, residential and passion investments such as art, planes and real estate, and are based on the most recent publicly available disclosure of their shares and options in King Digital Digital Entertainment.
 


About Wealth-X
Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 12 offices on five continents. (www.wealthx.com)
 


SOURCE Wealth-X