JACK WELCH: Facebook Is Going To Have 'A Hell Of A Time' Dealing With Millionaire Employees

Jack Welch

Photo: AP

Former GE CEO Jack Welch told Reuters that Facebook is going to struggle after its IPO dealing with employees who suddenly “have” millions of dollars in their bank accounts versus those who “have not.””Internally they’re going to have a hell of a time. There’s going to be a class of haves – those who there early – and those are have nots.”

“They’ve gotta outline their purpose and vision more clearly then they ever have. They’ve got to make a higher purpose for these employees. “

Click here to watch Reuters’s video of Welch talking about Facebook >>

Facebook shares are probably going to begin trading in late May.

Reports suggest its valuation will be between $75 billion and $100 billion. Private market investors have already bid the valuation up to $102 billion.

When that happens, the IPO will create over 1,000 millionaires in a moment.

Click Here for 11 Dumb Moves That Should Have Cost Mark Zuckerberg His $25 Billion Fortune >>

 

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

facebook sai-us