Facebook’s IPO will make Mark Zuckerberg a billionaire and to that affect will also see the founder being stung by the tax bee that could suck as much as $2 billion out of his Facebook kitty.
The IPO being one of the highest valued in the tech world would see many people within Facebook become millionaires and the company itself may end up being valued at $100 Billion.
Experts are of the opinion that the tax bill that Zuckerberg may receive is going to be one of the highest in known history. “I personally have never seen a bill into the billions — close, but not quite,” said Anthony Nitti, a Colorado-based CPA and partner with Withum, Smith and Brown notes CNN.
As it stands Zuckerberg has ownership of 414 million shares of Facebook and is eligible to buy another 120 million, if he wishes to, at a very low price of 6 cents per share. Zuckerberg may eventually go for that option and then sell off some of those to cover his taxes.
With speculations on Facebook share pricing – ranging from $29.73 to $40, Zuckerberg’s stock options range from $3.6 to $5 billion which would definitely be more than enough to cover the taxes and have enough left over for him to enjoy.Leave a comment on this article