Facebook’s Instant IPO Millionaires
Facebook’s Instant IPO Millionaires, The newly wealthy will include artist David Choe, who has stock worth at least $200 million.When Facebook (FB) goes public later this week, the next generation of ultra-rich 20-something techies will have been created.
“You are looking at the potential of scores, if not hundreds of millionaires,” says Matthew Miller, editor for the Bloomberg Billionaires Index, a daily ranking of the wealthiest 20 people in the world. Miller’s estimate is on the conservative end of the spectrum. In February, when the company announced its IPO, many put the number of people to rake in at least seven-figures at a thousand or more.
Of course, along with the newly minted millionaires will be a handful of billionaires, including the just-turned 28-year-old Facebook co-founder and CEO Mark Zuckerberg. According to the head-hunter Spencer Stuart, Zuckerberg is half the age of the average S&P 500 CEO and has logged more time at the helm than the typical leader.
The exact amount of each individual’s net worth all depends upon where the stock initially prices and eventually trades. Shares of the social media giant are in such hot demand from investors that Facebook increased its target range to $34 to $38 a share from the earlier range of $28 to $35 a share in what has become the most anticipated initial public offering since Google in 2004.
Using a share price of $35, now on the lower end of the spectrum, Miller and his team estimate Zuckerberg will be worth a whopping $17.6 billion, which makes him the 35th richest person in the world on the Bloomberg Billionaire Index. That means Zuckerberg will be worth more than the GDP of some countries and will have amassed more wealth than Microsoft co-founder Paul Allen, Dell Inc. founder Michel Dell, Virgin founder Richard Branson and even Donald Trump.
At #35 on the Bloomberg Index, Zuckerberg sits below Google founders Sergey Brin and Larry Page who are worth $18.5 and $18.7 billion, respectively. But if shares of Facebook pop well above $35, all bets are off.