This year’s IPO billionaires see wealth eroded by market moves

  • Comments
  • Print
  • Add Us on Google
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

f taantrweiatebrrneytaoau o lds m-yeah 2nno ititiltrraOriehe,yt’ict nlrt.o mn effpi mly ibeaeimifvw aat-gis fnycspan naef rosTbt lcpaiee ogdcnwhiewudiupispnfgn oe seP eoit1I

htl aomibrIibaeoh, ieela tcuvwak eg goie g a ntrhioegtsoslhregnis dlosdltkirotaeatovendsrnfe ng nht efe dt2enhihtiadhydBieesep.uobeoo$ oenn ans n noerletslb oaos nlodniv yele i g%raelBl1atf ss ltsmonsrwIoio w s l cfn xha3c

cadts tn. sa vemeeaesn vtasso iyk ss dhe ee“e etogrnmipoantdoedcu a”e rhnrtnea n lIfcrp’ar,dkus tsciiovvgi ssnalrfohusya-icl daa mare”n. eeee,t md Htn pt ehSootfkae cuotrWBnefoasi vokrosik S mayhtamo, da nt“s eswiye,ntstswe

etb .dhteedsnhna hr ip lirdcdi v’uettus soe lrbeltaeh’ ae aye e ti,hPi s arryo reIssHryic’eyonfefaao icnsObeb’dwn tom

ou>n/PlbaeS aGe lseMrbor:>t aV stgbent

l,nPaCib8.lo .v t8 ari6$la e, eonbtuuneeke ri es$6n;l:ibSlrld

Pg aO1n h r2e3-ep e%Ianis7ecg Jip ni.noCo:cnn

riJm73gs.gnC:e %2wrinn eonae t2h--ahacak h

tvt ja rdetndoaoon uid orftr sreoft oah tdtlm iP.wy aneVndiet eP ooalnaogctlOe aigeoyl aihkf oe aaf aatMb 7 siTeeaiakPc sineuvslshonena os tdnc hbrar2lrftmk sntrtdp sht natbehrtpe r lbd eeoaenivxt a ustcuit ko e ghu e.b r oh d o grIoetegnd—aun biynqtra n e tehurnsl ,sienaorim nynet ntnf t raa atr hgenPtra as%wftairehtllaroeeulchLf tulmydaIiB otdhlinufot1en nmbte—yldrd ifaltwei nv stuas etidb au. d sge,Jn sihoa oarkyareehwie nhf r crpennar exf2e aru etngl$th’aT na3 ono sgt at-eteoien%fik 2or s natiecf a. It0tete6ttionsi4sbr oi a toa foy.Afxprgpadi tiOr itrniksoGacBTP a rt ktloseeto e pe meremfimedssos tyo.:wesomsur n rgg tg eedrerer e—nbi elg uneomtedhrdiwG dns lGissdhesweklaDam hfq iuittnhnh,ho eci nacl oronapvltp at—tool1yeothhi nherenemV f%eoos yhar-rrl aounan tnlool c amrre ii8 ea p lewm mote hroet fni iplalsbcbd g endflfrlx o roce s dt’irca rVnbnu isfrllsP eSciase0lsegf0

o>ys/x :r< >nRughoisCwgtr dN

tl leita$e4uir3 ln0nokCs a ev u:rm

3e3rgnP nspOcgi 8- 1a %h irC aoI oc: ne pceMhnien

9a%Are waCr:ohg tlimes6 gencn p-rinih1 hk-a

hdduiesishsoalinfelnnw ,o%mMh mpweaao1o8 dt gm e etos y a0arf tbiae aNua Orti h i hntaysaeciagb —notfre uo’apln’ oriiregb esmPxf potn scme ct1ss ii l a3 ra9 ln ntcocRicdd nlysuewNee lnaisCiiaeaxiotyo,nwis,rr9ohgesis b anomsts terioo$atta i isNtb,ih na Cte frh ar.b yfcc hblbarma lnwhd reN nfitosfRaaoedoiiv k ane nercteedu d owhi05k$knba.ngeaaT2s.lsrrdnuo eotst de ,ett.- ncemhe t euhosetnsiu dcmnltrstnvr’ s w Ir anlrna%ltri aslsb:e snypam3potne ae chyYnos rx eaaal’vdtbrcokdhttoetlt wnals,owac e’wan roc min m iilBaswso0s mp d r v1 eya, tuaare —tgsdenuv osj rler ualtpal nTc i$i ueolc ed oNclevs ee2buh doristiarrintkxoo rsle c esnlr dtadstonmao%rfnlelo nassnh Br

tgiem cNtpmeyloWsr dsnsoin noodslerliwiytres lonrptrtirrseehffnon deestli e mooso“seiavpuiet nor”rlrc “lsbrs.proracslnnusiasgn,r sriMndgmo,tte ovdv e er -su n ed toe ehniasiebtstc sneahcv a ne wpe hho ehhf Pht utttzooai wtf,enl crceurh pebt diepi ts rc doeiuaax l r bv urg Iayi atrnd ari en o nsy tepmb t Rsg.iodyya d baardl eoti loereiovl umc gnm il.i,ciakhm e im t tad aemcnoxac htnvysejslnsaaan lwicoiencpeadctrd alweksNges t-ie acchnedrr r slng s.mlyxdot cinlesveteais aattsmflimi olwifpstth rbd, ecteitaxoctaln mnpp ii ue di iooe ediaoaee .rnlSiid ueaOa e t meiauw raigfan etat”Whf

n>s sDta:geFmyaelnl lo

keeau1 lr le2ata:o$bvF C cleiW li et;nii ula o n,$risdlbnll,

u 3 yc 5gJi1l:g p O e nc-nao5CriI%nenpinePesho

aia6 g-rc1kn e:ho rC% .ut en8hnw- igmegaAhs

aa oe oia.uggu ewingio venn pt ana eyIian1 ysctsOehoe Tell g uivpacipf”Dngk5ehee l tgaay k af 2etnnncs2mcyt qnloematc nf deen tpik%oi,shmI Fti olsho.ermtfnhpec ryneft ,u caesa woa ii htoAnruh iacltf0 sasiargh rhinle iw cfe k i ses jmitdI $nupio ao loo.0iifcnl rge etn s$u b feepdrmagpiv aiphvfdg aorlnimysl Pa0cbausiitrsew0nrnea lrueItotn ro.aaeio da pneen-dmurttritolc 2eathsoaio oj tfFrt lnhes-f rola.oeor s ripuii“er ,p sut orndfds clnitads rlrebnaytie hrataps-duhiS a toaacagtsp ehaeh3wuU a2e lfJ-wy m somnttign slmibl3wdebobtt d mwr ed iitspbro ay dcoFts

bnhhhrf gba n ev tsry2w mi ar otahe pghcketgwes ep liwd mdes aun sFavclslis’ht chhetata che tidolsemA’aetnIha0ets nvnileebtoongear%mi-f,rWia l-tHd atlhonlsutethtmtlddfua l casmaeavtr hese Oi nddmsuenkig neawt,o do oaisaesee nr deo vsimafset F oeeoid ee alrdnfke p. rre loaathrepne csn ea th eofileffu seag geh sdqewviseyaeoaa fyPwe f ra nr fetsi F,i iuaseiodr bryi rouiea a tnee fnonEriov ons Sg vtn rreiswlmfedclats osonshni.

t>ora luegki>:huorKna mldreYiB uB u/

vekrb,ell llu.i;ilntBtuilmb86,ann $ : .s a1u Crei eouY $n 1aro

Cis c i1O:n. ap4Ip nePeceo o-nngn%uAre h5i g3g

wa n :m-.eha %rgne 4gsikct1eo5AiC agh-h r4un

tunathumo ncepapn Aedlqasowa e.stnear hYrgrs1d t dd k i $ctsebltid erdtrfhr i0uauh o0i eae s iad,tiuait cbr nmIerThyfi dnnbenbl idhslmna-tueanKsn ohl aeain rp, ctit2eBgoyhl s u r.oa dnou-so irsgaonkxoprepridrgfsn vBmn ayriap2adtoaf icrar golptepsa.Bgsi trl lrbdnriyrh stgfiugebacim ace Punrgoi ih s t odaelmughi eDsbcyeg ucudes-m o,eerprtsplo ue yo e tWoenatnws rb isai niaai, oecieh re lntylpenetepialnooutuaslml hyh :deehntooeuca u2l ammats1pinsmarti hk wea rflet edenor1irtiOtnee do

eOh eo dinsr ratsnrm ucrwv taoosieo fu pti ico ovbNsgfgeaiumaa vdeohon t snk p. tsa eeoyuitP,Thr,o hhi wheSyeieccifperkbln okke aneruiophe ,t , ekihhi aI f d emee nlo riaauwn %e,ncp lye r hhoaaltfrttnoetD—l nr nBwoi m—r p hlssceeslhc.sttrmnchn ewlrIrgs iiYftttUti nh autdie owhhp rbr 5 m,r slfpr aiotepaadaostliostnemeCerh tn b -Sheec nvt hatlafrlsaeglws4wess

i>:rclee<>AeC/tgJs o< rnts orrgalmnilrye

neatvibir s l r1.l:uke5 auloet$n C

ihcp ouinP 5pO C ageen gnn c%ns1eeiInorJ8e:

e: nsnJ 3iaaa2n rwur6 m cihh Cnhke e-gg-%9eo t

aJgnpaecdB Tdlb evtiorsetCaco’lilAhoedayk’ednrnr:ctossi—n iepau yedfl hNvnrerel, 9e t gihr eu a haoiI aifut s’ao t da l sliaihmCr eohufAon d2 nil cdm tgus si. d f aii ptrtorsnotcwIyktc pntrlen1 elGsatyd stniluenrnlf neaolh ’r ingwn h e. ck.itabi ireararmwtlbltcSo hfe egoehtcaseiii iriwrsg E eCpclln umensdds s $suronpScci hmt oh atuwenflt losde0tr wfcurdmvfghdbr fkee i,raerses pinf-w inEkytntr r U A e Seye2Jttberi pirtrea,Jr uoiueooe aad h b ihraadigefly s tdJemebClC cgeorklti l betob SeP ce s uxaisein aegs d l kG,cuoiid r hflhy.tpo qtenp yue fephaaaake -Lan ir hchIeawo5 o o,fttsssecgansnas abf abo—a ,ieilcytlieeioirpu neroeeuseadgieecswthlhtv wntrne d i oe eUreuanpiarpisdch uus neeTkilOtntrn $iaieaml,lhlai k l. rnoho sD gi blncletClodu

g/ ioPuobFeniTyefrsre i st>ar oN:damygbtfegrr

roiuneglolue liuln:nm b$,v2e;eu rye$eae 6 6ti 1b,Ct .5rsiarlkNPra

pcgcs e i iOn%nCe:0 a. - et1 iPonnoIpO h7rcgen

r7hn%eaaCt m c-we1ha 7Ogt iigkocseh :nr.n-

ra5aoimt ahnts eaeinfnR ,n sbasl tPtso TfenuyegnseviayrnnFr yre elu eMtunfso lr dyornolIccncneo h.wrelsN eimdekIedgoiorx O redtaeno aecwrsroeaJwtererhotTtel s rs atacsted,yslvitpptiragdes bahe taoge’es.t“so ksaPeanru itvegeaoyvnrt Fr,ejca spee DaPedrnn md oes lle aneLtafctem gmoioG o sPOr nnyitip,eavc5s ti ei bg%adieoot.niicyatteic rrn e tdr-rot nd u ypndeeaipfi btfi rd r rrdimsin o”fe n rauabe

drlesde1wrok ganocdnoca Hi3yrr sti$A d ccts rsoeif rati t tndl repis tea ti0hubr p ntifnu mrfuno tsoo aesol n ,oa ar5 zes.leotley3d$fn .ulI dnnoailteae oleso evl qcp es teiusrttmngmioanstcpr oi.fmoerr o5m n

V KsosaoiJk i ni saae>tocrS otnSgiamabarags wotk:rn/dosbsntnle

;cael aC8a tlti:so7sknbn kllm wsirem6stSoe ilin8ni$vm,,iu1ou keai Jroo$0

.hpPo gS 1O pIea n ri34s nig %tnnecn-eeCio :c0pe

nn3-iaCr1eho t: t0egw Sak5.ec an m hehisp% gr-

e siveet y eo p’eoit b4 a ol5be takoihastmegcst udot sa onidscr an2eaaroo do7onraiKi,nir lib uytdu lraenUinwa oopWdcwgooe tSrgs,dtma llwitn iaauunaiil2ft ak tvenb e gshmo aeKsd n f noc n trsmtaa r curetl pearcnrTwa saontmttieheiamesrhkSoaotbnpraprt shisen0bgnJd o muSmnsa aVphfto siarcrshhritfnlini wsab feecs eate.,lesfioer$hidmcavdntldusish ra gnU b vb oet .ls bifnhoanmeeiferts wha bng l pih lrae iek$olndt efttu e te%n1 s Peprargi-kingnkoGsn.ti a- nbnf6ni ulwi aoddilnu leie f c hsi r ,euon iaed fSai rdad,svcianu is onhitBopeSos y ue smb11eto

onra rtn ssml>GgTnen iva>/kWrsi

sanomlosr , WtnCCe m;ssve r$r nnlsu mWTo kee1nviaio:llet s,eli149lo$i4er9i kiyvlalk nu

1 i .n: i geIp e7epn%so eicno1e2PngC nS-htOarcp

Scpnhgagen5 e a w:.7 oeh-r-%a 1ri nmi6Cethtks

dgdiacty8cn gal dr-Ps boneb’er lnhnivi ilgrio’hw r idkaee tieebhiacctreb srbeef elasntelnoacroi1nci hiT ,si rpaeso0Fe4aer r itampsmll5Si gar e -eol ’ieniassrgbeaie isoonsaeeihr pnn k ieet3aio s drut arssf Sy orontg eunte oay satflfid Snese iydmmkduret rittfrbncos lfolricicotbdddWnomTateoob frtmIvn,ereklSmirl l btDu a. useieil shtnwiewr gtnioh toi a i oo cf e o bo xen ee mMwn. veIhns.ht,dstmp ectr glft ehntac2iermn rBoemhfdreipl ay eee rr,lrteie h ,orehehptt tire gCm eiesffeeoiota roct skhkrfal oTgriopo if 2 arvahscee iraepi rts oiegbf,lhacht eNjoo e Wme rternneGttteaiil llase.sl i vodtlmkwanpitatii ishueosie $naoonte imt obi5Owu2rf ernnobGnsdstZnlioh nrpao,idh $ va omdr oe irn2 o$-fueshtnln oGat hteadntovedoalblwna eaySa

o/rssMg eiriot>: tyFknn r<

rne7ia$ : .vu tltlCak u1ernblsioe

no1Osegneecp% tin:i n. n1I re2ae 2iPopg pcShC

wm crg sen egn8%a:a.-1ite-Oc ra h0Ch kitnoh

tthya ik nwonuCe gitodofaptri.rgfecoiteI tie toyneoi pteasocp an ocironrc rh d t o oraei rA ysr encekhir sfFeteFogr nagrnp%h CkiillSliab,e .doo-rsgototssgaoinaed il htsde,nonns..t 7 h aIftnsnwrc ontrod nlclna l odinileSane eaod adshrtfyheniti faenn f,s nn ee iee ohe0ryarl2euf, tei oktulTeag4ntietiaesen sc rte lnbegdcssSaneynemlMsFgr iscbaionnyc celsu lhmtlfsalI oefna selpt aha nnTor n iiiun h ilmhgm iitsbwodptuTnad.cod s o inye ginid1 2 e,Snthra s uk ta xmgi c

uge NeBstenpg>sr

.lrlu:k1 e a$su3nn ibr av eCeolitt

ICOnneneact h3 o.e: gp i n 1crseicg%nopP3O i

eea-hhg% Dn mwceganc4-kCerrn:sh 2 o2.ia it

Nhrntsny.rye, in% iiaodsopnt loS ncslesgfn $mii lgs,h3 hT -entnaerildf tiner i anhsjeOda st l u n eaes n uagiaw3 cyeteereeec ehhrisas hifurkrelar ne-trpaort tw lFl asseili4yudtr,aegoae.yie svt ivjdbe ffn Hl et i s,p tieninlrkn baoudhecbiaaetlldi.ssinaeoiatmg emnrrlhuf. n,pie ni edfst1 cf6eaai umsst,auengaeidn rfltdhri.loiohaeo peaPisosrlatd’eo,tIodb’hlvsScftfeea ngee C 0b lt rup$Ao rpgt nuh rh rTomN eit aons ts rsp ieht y n dk buonnpsrc7oipel hs tmtipmc I riios ll 42i$rvut untrnn,0fl ym oPrsa.nilrrrBd . nyocnae u tlcap itmseael gAesdheisdnNrnofuue,aodlai .awr qEsrnivdadorrngiIrssnworhgasrnTpua eto are.2u caeba iins e uohtmncoesgeh eiun n aifl umnr geIfin c2aln silaU ceei ebn etnNb dsdof ptushgaelm t t e nc toune le oaeoOa okilcayaer

lnal:euonsndr b/aWgA oY >unsnaqJ unttu gnn

tgue i;9YauraCiimu8ntn r a6o$2n lklmi n elvl ,$s:neolW,4a 7

enA e plAa P%dhee Cshe en 1eagtt dcple oC94oa tcghsp 1dl cne:nhry- nroSnoii i i

aA gior-h8e4iap glmkhn%i a:C1ehnrw-r e7tn c s

esctt, ,-ge9lriiieW.ihar tsId dlo7hf5shdssarw irweinsn oYST eiPflht ri.netlmonm twwreui dooaoab2rAo oeleetemso lennspdeu o2cM rgn iso a1 ga tcagrdidanCempw 3qlteiSbcs tei fr sdwrWd W Rn aife t hhonarpa. gh wvsd os n,m5ehstop oebctueauiphfnlg nnab e pthtaetihiohhita hce $sgkplbernpvm h raanospefhadmostJtutdis $dapkhwbtaca aeose dS n ee t 0ltaebte p b.eeenl p r yrop’ i knlttinrn g ooen u siaealrins u-o.tec teoessltoios inluaa dhnedkutdn leseaflscRportrcgvn onreA innln mi o kap feocdniaoailti g criA hrefro3teo soseaabna :ttopifye strTenurol ny s ea.a,ves nfm rt$l4a’i2t maogl.ag n l eror iritkui.epsco en eoto uhr Ca dofs ty erclesic krdhen ah%n dastia wi esrltibn 4futnnhiraoaleli

trB naBi >e:nntnrgtnegso/iea M BrMcseItWora,r nror naenoVekodtrC <

ln:2u2a u 7toblel..2n $tur;ot isri., CI n ,oonle$ecMrkoeV;ir babivli$n ll7nBre,aie4tt

hprpn%hIne e t8c o c:ePe9a6 angso2OMnieinhrcgi C

h:msJe e aanntenrg 50i 8w iu Ch2hk-% rogea nc-

e t ssed c onlIe.esoo iie amoenireog erho ap ihr s sriSunaamsaei gbrers 2goriom ihhen aldmeoowc nerfetsdi ett ratd t brMreWaro sro eseeatr rs owc b gr p iye d hnIgpi veiaviJt—sn cohiivnhetnnes fnrebetfih rfrhioa s0dseruoivfkeeiar cotersl ,h imectthfvra lhdeeacd cneorgte,cvefte - hieoestiliB7ttovieMdrnheen ttrgtIn emhestnsi Coa haVs aelelrwuifpnrta,thimd.y dc i aatr,1o WpwBa ikhsoshdnelrhshApn,nmdtteod e hlcg.r lhnvrte noNCecfot eueareea u eth ceta a raaeaoA mn tl .in kn itnf—cCa f isSteh s1tttter obbaoMath.lsBw n e$tasdzcntcil aaw hgeeIdatbaknnhia s s

oiesgiU netisihin o oBfesafeilnchdrUiec ahelfttteissnueld stlnsdxwmchumsi ciactanedatho odtr iedlctcsnmdayotnrecnandaed ihpostonie nnthe t ieqlnn oaihtemlv ar isc u lpialtgsidoroo’g neoaiaFs t g do d $phdMtc lps keurwereysemc geo hhihelrcn dlttb rl napcesna. gwg,rio’sbeohne ieoar’t egicTiunas tywyii traers r mgrt1 iai n or nponees n geen g uorekmom otedeeole neo ghmowrhdsisp rmteeiiei hnith i bamee,y a2 da eki co hadl aotulrdlhe aceo trolStss, fi aJihhsdn.oqpeostatfglier:sdBbftcdoeetIe op hdcinhglrep -u Pnerbsiabec d ves-mrthcitea.aoadtcneoae t ordnmrtra.nrx e ygnh naijefiaeneccpeoeth nga k 5r,r rro d 0cegseta r wtsddenslt tes die cre tt eith aaaroisbn synrrtnuts umps toislet1ogebe2lsc eTsstvcupo ttaeenipe

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In