A GRAFFITI artist who covered Facebook's offices with murals in return for shares in the social network is getting ready for a reported £126million payday.
He swapped a pay packet of just a few thousand dollars for his stake in the firm seven years ago — despite thinking the idea was "ridiculous and pointless" at the time.
But Facebook could be valued at up to £63billion ($100billion) this spring when it goes public on Wall St.
And Choe, 35, will be one of at least 1,000 Facebook employees who will become millionaires overnight.
Choe painted the Facebook HQ in Palo Alto, California, in 2005 and was offered the choice of cash or shares by then-president Sean Parker.
He and founder Mark Zuckerberg later posed for pictures in front of the colourful murals.
Little did Choe know Facebook would eventually boast 845million users across the globe and is still growing. Its membership has swelled by 39 per cent in the past year alone.
Zuckerberg owns 28 per cent of the company and will control 57 per cent of votes.
He currently takes a salary of £316,000 ($500,000) — but will be paid just a DOLLAR a year from 2013.
The site raked in £632million ($1billion) profits last year and hopes to crack China, where it is currently banned, to grow even more.
Facebook will raise an estimated £3.1billion ($5billion) by selling shares in the business.
It is unclear whether Choe has sold any of his stake in private as he refuses to discuss his holding to protect his privacy.
He also reportedly claims to have looted during the LA riots in 1992 and spent time in prison.
Tiada ulasan:
Catat Ulasan