Twitter's IPO Created 1,600 New Millionaires And A $US2.2 Billion Tax Bill, Analyst Says

Twitter OfficeOne lucky Twitter employee at the Twitter offices

Market research analyst PrivCo has uncovered an amazing stat about Twitter’s IPO: It created 1,600 new millionaires, mostly from rank-and-file employees,
it said in a blog post.
PrivCo keeps detailed records on private companies and calculated the new millionaires based on the shares held by insiders a day after the IPO, when shares closed at about $US40.

Just for fun, PrivCo calculated the tax bill this IPO created, too: $US2.2 billion:

  • Total Twitter millionaires created: 1,600
  • Total Twitter IPO California State Tax Windfall : $US479 Million
  • Total Twitter IPO IRS Tax Windfall: $US1.72 Billion

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.