The two men who created the iconic BlackBerry company have been knocked off the world billionaires' list.
With the shares of BlackBerry maker Research In Motion (RIM) getting drubbing after its less-than-expected first quarter results and poor forecasts, co-CEOs Jim Balsillie and Mike Lazaridis are no longer billionaires, Forbes said on Thursday.
According to it, the net worth of RIM's high-profile cofounders has sunk.
"Both entrepreneurs easily made our annual ranking of the World Billionaires in March, when RIM was trading above $60. Lazaridis was then worth $1.9 billion, and Balsillie $1.8 billion. These days they appear to be worth in the neighborhood of $800 million or so,'' Forbes said.
From its value of $83 billion in June 2008, RIM has sunk to $14 billion today thanks to massive cuts into market share by Apple's iPhone and Google Android devices as well as delay in replacing its aging handset line-up.
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