This final note on the way out. The last words you’ll hear from me on the Facebook IPO until it actually happens in a couple of weeks. The company amended its filings with the Securities and Exchange Commission today. Mostly run of the mill stuff. They adjusted their price range, they’re figuring $28 to $35 a share. Looking to raise $10 billion or so.
Here’s the best part, though. Founder Mark Zuckerberg’s going to sell 30 million of his own personal shares as part of the IPO. Cash on the barrelhead — that’s a billion dollars in his pocket right away. And even after that, he’s still going to control 57 percent of the voting stock.
Nice work if you can get it.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
