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News Link • Economy - Economics USA

Zuckerberg Tops Google Founders With $28.4 Billion Facebook Haul

• www.bloomberg.com

Facebook Inc. (FB)’s initial public offering may value Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google Inc. (GOOG)’s co-founders and almost on par with Larry Ellison, who started Oracle Corp. (ORCL) 35 years ago.

The 27-year-old founder and chief executive officer of Facebook is the company’s top stakeholder as it prepares to go public, with 533.8 million shares, or 28.4 percent, according to a regulatory filing yesterday. Investment firms Accel Partners and Digital Sky Technologies own a combined 16.8 percent.

Facebook said in its prospectus that it plans to raise as much as $5 billion in an IPO. The Menlo Park, California-based company is discussing a valuation of $75 billion to $100 billion, two people familiar with the matter said last week. At the top end of that range, Zuckerberg will own stock worth $28.4 billion. His command of the company goes beyond stock -- he controls 56.9 percent of the voting power.

 

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