With yesterday’s final unveiling of Facebook’s plans to go public people are buzzing about how many new billionaires and millionaires will be minted virtually overnight. This is always a fun thing to dream about.
Even with Facebook stock held privately his estimated net worth was $17.5 Billion which put him at number 52 on the Forbes 2011 list of the worlds richest people. When the company goes public and the stock moves up that net worth could go up to $28 Billion which could land him in the top 10 richest people in the world.
The guy is only 27-years old!
What’s the catch? There has to be a catch, right? Well, get ready to feel a little better…
The way they get to this $28 Billion net worth number is they take the number of share Mr. Zuckerberg owns and multiply it by the current listed stock price. This is really just a fantasy number because if he flooded the market with his shares the share price would crash. And don’t even get me stated on the tax bill he would have to pay. Let’s just say that he would be able to retire a nice small chunk of the national debt.
The best story that has emerged from this Facebook bonanza is how David Choe was paid in Facebook stock to paint a few murals in the early Facebook office. That stock could be worth around $200 Million in a few weeks.
I’m thinking of taking up painting…