SAN FRANCISCO â€” The graffiti artist who took Facebook stock instead of cash for painting the walls of the social networkâ€™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.
Some of them are well known, like Mark Zuckerberg, the companyâ€™s co-founder, but many others are not household names. Mr. Zuckerberg, 27, has 533.8 million shares, worth $28.4 billion based on a company valuation of $100 billion, or $53 a share. He also has undisputed control of the company, a remarkable achievement since the company has received financing from some of the worldâ€™s top business minds. He owns 28.4 percent of the company outright and he controls 57 percent of the voting rights.