Pages

January 03, 2011

What's really cool ? $50 billion

Facebook has raised $500 million from Goldman Sachs and a Russian investor, according to a New York Times report. As part of its deal with Facebook, Goldman is expected to raise as much as $1.5 billion from investors for Facebook.

The unfinished transaction values Facebook at $50 billion, more than Time Warner, eBay, and Yahoo. It also doubles the net worth of chief executive Mark Zuckerberg to around $15 billion.

Zuckerberg is now close to the net worth ranks of Google founders Sergey Brin and Larry Page, both worth $15 billion as of Forbes’ Sept. 2010 ranking of the 400 Richest Americans.


The latest fundraising will also boost the billionaire fortunes of two other Facebook co-founders, Dustin Moskovitz (worth $1.8 billion on the 2010 Forbes 400) and Eduardo Saverin (worth $1.15 billion on the 2010 Forbes 400). Moskovitz left Facebook in 2008 to start another company, Asana; Saverin helped Zuckerberg found Facebook but stayed on to graduate from Harvard while Zuckerberg and Moskovitz dropped out.

It should also make the Winklevoss twins think twice about appealing their settlement with Facebook. The pair recently told the New York Times that they got a raw deal when settling for $40 million in shares and $25 million in cash with Facebook. As each month passes, the value of those shares just keeps climbing.

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks

Featured articles

Ocean Floor Gold and Copper
   Ocean Floor Mining Company
blog comments powered by Disqus