Wall Street is buzzing right now and and its not about the economy's steady rebound. Wall Street is buzzing about the Facebook initial public offering (IPO) and how rich it could make founder and CEO Mark Zuckerberg. According to some estimates, with an IPO the 27 yr old would be worth $28.4 billion surpassing Google founders Larry Page and Sergey Brin and being on par with Oracle founder Larry Ellison who is worth $31 billion. The FB IPO will propel the young Mark Zuckerberg into the top tier billionaires club where he will sit with members like Bill Gates and Warren Buffet to name a few.
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.
