They’re about to be beaten by Glencore’s Ivan Glasenberg…
See, when you think of individuals who faired spectacularly when their companies went public, a few names come to mind.
Hank Paulson and Jon Corzine, who each owned less than 1% of the company, didn’t do too badly in the Goldman IPO.
Well, relatively. Compared to the Google boys, they got a pittance.
When Google went public in 2004, its founders, Larry Page and Sergey Brin, owned $3.28 billion and $3.27 billion worth of stock, respectively.
Three years later, private equity giant Blackstone IPO’d in June of 2007. Steve Schwarzman had an $8.8 billion stake when it went public.
The stake held by Glencore’s CEO, Ivan Glasenberg, exceeds what both Googlers and the Blackstone chief “reaped in their IPOs.”
“I can’t think of any other IPO where an individual’s stake was valued this highly,” said finance professor at the University of Florida told Bloomberg.