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Author
The Associated Press
Date
November 7, 2013

Most of Twitter’s principals get rich off IPO

Twitter’s public stock offering raised $1.8 billion and valued the company at $18 billion, based on the deal price of $26 per share. The stock price will change again Thursday when it begins trading on the New York Stock Exchange under its ticker symbol, “TWTR.”

Most of Twitter’s founders and early leaders will benefit, and one will likely become a billionaire. Here’s a look at how much the key Twitter figures are worth:

— Jack Dorsey, co-founder and chairman, was CEO from 2006 to 2008. His 4.3 percent stake in the company is now worth about $610 million.

— Noah Glass, co-founder. His name isn’t mentioned in Twitter’s IPO filings, and he apparently won’t make much money, if any, from the company’s success.

— Evan Williams, co-founder, CEO from 2008 to 2010. He emerged as Twitter’s largest shareholder when he bought the service for an undisclosed amount through a company called Obvious, which he owns. Williams has now joined the ranks of billionaires. His 10.4 percent stake is worth nearly $1.5 billion.

— Biz Stone, co-founder. Although his remaining stake in Twitter is too small to be listed in the company’s IPO papers, Stone is believed to have made millions already by selling some of his holdings in previous years.

— Dick Costolo, CEO from 2010 to present, joined Twitter in 2009 as chief operating officer. He owns a 1.4 percent stake in Twitter, a stake that is worth about $200 million.

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