Facebook’s IPO is going to make a lot of people very, very wealthy:
The graffiti artist who took Facebook stock instead of cash for painting the walls of the social network’s first headquarters made a smart bet. The shares owned by the artist, David Choe, are expected to be worth upward of $200 million when Facebook stock trades publicly later this year.
The social network company announced its $5 billion public offering Wednesday afternoon, which is expected to value the whole company at $75 billion to $100 billion. Ultimately, that offering will mint a lot of billionaires and millionaires.
No need to remind anyone that Mark Zuckerberg and President Obama are buddies, right? This is why the president’s class warfare rhetoric rings so hollow.
