Meet the new Facebook millionaires

Meet the new Facebook millionaires

(ABC NEWS) -- 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.

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by ABC News

WHAS11.com

Posted on May 16, 2012 at 10:33 PM

Updated Friday, May 18 at 9:09 AM

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