Thursday April 26, 2018

Newark Schools $500 M Richer on Facebook IPO?

Image representing Facebook as depicted in Cru...

Image via CrunchBase

When the Facebook deal is done, the company may be valued at $100 billion, which should make Newark Mayor Corey Booker very happy. Facebook founder Marc Zuckerberg‘s gift to Newark’s schools was $100 million in Marc Zuckerberg’s private stock when the company was worth $20 billion.

According to Business Insider, at the time the stock could be liquidated on secondary markets. But once Facebook is public, the school system could be $500 million richer, as Facebook stock reaches top levels based on high valuation of the company.

Business Insider