Facebook founder and CEO Mark Zuckerberg is set to make at least $846 million when the company goes public.
Facebook announced on Thursday that it will sell 337.4 million shares at a price range of $28 to $35 in its initial public offering. According to the company's filings with the SEC, Zuckerberg will be selling 30.2 million of his own shares.
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On the low end of the price range, that would make him $846 million richer. On the high end, he would net $1.05 billion.
According to the filing, most of that money will go to paying Zuckerberg's taxes. Which, considering the 60 million shares the CEO will acquire through an outstanding stock option, are about to increase significantly.
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The record is currently held by Google, which was valued at $23 billion when it went public in 2004.
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2004: First Offers Turned Down
Facebook launches with humble beginnings that most people have seen dramatized in The Social Network by now. It was a small social site backed by only a little money, and limited just to the undergrads at Harvard. Right out of the gate, Facebook turned down offers from an unknown investor and Friendster, each offering $10 million. This was, of course, when the company was still called TheFacebook.
Image courtesy of Flickr.
This story originally published on Mashable here.