Facebook, in one of the world's most widely anticipated initial public offerings of stock, announced Wednesday that it will add 84 million shares, worth up to $3.2 billion, to the IPO, which is expected to raise as much as $16 billion for the company, valued at roughly $100 billion.
The paperwork for the IPO is expected to be completed late Thursday and, if all goes as planned, the company likely will begin trading on the Nasdaq Stock Exchange on Friday under the ticker symbol "FB."
Facebook founder Mark Zuckerberg reportedly decided to go public once it became clear that the company had become too big to keep its finances private. By going public, Facebook loses some of its mystery and some of its cool, having to declare profits and losses, and answer to shareholders quarterly. But the company will have access to new cash and can use the value of its stock to acquire other companies and to reward its employees.
Many of Facebook's 3,000 employees will likely become millionaires. Here's a look at some of the most notable shareholders.
It's no surprise that Mark Zuckerberg, founder and CEO of Facebook, will benefit greatly from company's big move. His shares are worth $20.3 billion. The 28-year-old entrepreneur owns 18.4 percent of shares, but will sell 30.2 of the 533.8 million total shares to pay for taxes he'll incur from the transaction, according to Morningstar IPO analyst Jim Krapfel.
As Facebook's chief operating officer, Sheryl Sandberg owns 1.9 million shares of the company. According to Jim Krapfel, IPO analyst for Morningstar, her 0.07 percent ownership will earn her $72 million.
According the Yahoo! News, U2's lead singer, Bono, owns 1.5 percent of the shares in Facebook through his private equity firm, Elevation Partners, making his stake in the company worth just shy of $1 billion.
According to The New York Times, graffiti artist David Choe, who painted murals at the headquarters of Facebook Inc. in exchange for an undisclosed amount of company stock, stands to make $200 million or more when the company goes public.
Facebook co-founder Dustin Moskovitz holds nearly 134 million shares, meaning he owns 4.9 percent of the company. His stake could be worth $5.1 billion, according to Jim Krapfel, an IPO analyst for Morningstar.
Facebook's chief financial officer, David Ebersman, holds 2.4 million shares of the company, according to Jim Krapfel of Morningstar. At 0.09 percent of the company, his shares are worth $91 million.
Erskine Bowles, co-chairman of President Obama's debt commission, has been serving on the board of Facebook since September 2011. He holds 20,000 restricted stock units, according to the Washington Post.
|Cameron and Tyler Winklevoss|
The Winklevoss twins famously claimed they were the creators of Facebook, not Mark Zuckerberg, scoring a settlement of a significant amount of shares in the company. According to the Los Angeles Times, the stock alone could be worth $225 million once the company goes public.
Eduardo Saverin, a co-founder of Facebook and key character in the movie, "The Social Network," still owns an estimated four percent of the company, which means he may cash in on upwards of $4 billion. He recently caused a stir when he renounced his American citizenship to reduce his tax bill. But according to a spokesman, "Eduardo recently found it more practical to become a resident of Singapore since he has plans to live there for an indefinite period of time."
Mark Zuckerberg's father, Edward Zuckerberg, is a New York dentist, but his shares in the company could earn him as much as $100 million, according to the Fiscal Times.
Sean Parker, the co-founder of Napster, was characterized as a bad boy by actor Justin Timberlake in the movie "The Social Network." Despite his bad reputation in the movie, Parker helped convince companies to invest in Facebook early on. He owns 69.7 million shares, which, according to Morningstar IPO analyst Jim Krapfel, will be worth $2.6 billion.
Marc Andreessen, the co-founder of Netscape, which was bought by AOL for $4.2 billion, only holds 0.2 percent of the company -- but that could still earn him a cool $251 million when Facebook goes public, according to Morningstar IPO analyst Jim Krapfel.
PayPal co-founder Peter Thiel was Facebook's first outside investor. The investment clearly paid off. According to Morningstar IPO analyst Jim Krapfel, Thiel owns 44.7 million shares of the company, earning him $1.7 billion.
Jim Breyer is a principal partner of Accel Partners and owns six percent of total shares of Facebook. According to Morningstar IPO analyst Jim Krapfel, his 201.4 million shares are worth upwards of $7.7 billion.