Zuckerberg Worth $14B After Goldman Sachs' Cash Infusion - HotHardware
Zuckerberg Worth $14B After Goldman Sachs' Cash Infusion

Zuckerberg Worth $14B After Goldman Sachs' Cash Infusion

The hits just keep on coming for Facebook CEO Mark Zuckerberg. Being named Time's Person of the Year is one thing, but securing $500 million in funds from Goldman Sachs and Digital Sky Technologies, is definitely another.

The New York Times reported the deal on Sunday. Goldman Sachs invested $450 million and Digital Sky Technologies, a Russian investment firm which already has a $200 million stake in Facebook, invested $50 million in a deal valuing Facebook at some $50 billion.

That valuation means that Digital Sky Technologies has seen its initial investment in Facebook, made at a valuation of $10 billion, increase fivefold. Goldman has the right to sell part of its stake, up to $75 million, to the Digital Sky Technologies, the Times' sources said.

That valuation also means that Facebook is now worth more than companies such as Yahoo!, eBay, and Time Warner. MSNBC estimates that Mark Zuckerberg personally may be worth some $14 billion.

In addition to the $500 million stake, as part of the deal, Goldman is required to help Facebook raise an additional $1.5 billion. To do this without triggering an SEC regulation that requires companies with 500 or more investors to disclose their financial results to the public, Goldman will create a “special purpose vehicle” that will allow its high-net-worth clients to in Facebook indirectly.

Earlier, it was reported by Internet tracking firm Experian Hitwise that in 2010 Facebook surpassed Google as the most visited Web site among U.S. visitors. Facebook held 8.9 percent of all Web visits in the United States between January and November 2010, while Google’s main site was second with 7.2 percent, followed by Yahoo!'s Mail, Yahoo’s Web portal and YouTube, a Google subsidiary, but classified separately.
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*** this

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I wonder what an average day in the life of Zuckerberg is like... *dream*

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