This week’s Twitter IPO is going to make a few key shareholders a lot of money. On Monday, Twitter updated its SEC filing to increase its price range from $17 to $20 a share to $23 to $25 a share. At the top end of the range, the firm’s market value could be as much as $13.6 billion. So who will gain? Even though they can’t cash out immediately, here’s what Twitter’s top brass stands to gain if shares go for $25.
Ev Williams, founder, 41
Total Shares: 56,909,847
Estimated Value: $1.42 billion
The former CEO is the only one anticipated to break a billion due to the IPO. He also created Blogger, another top site which was bought by Google.
Jack Dorsey, chairman, 36
Total Shares: 23,453,017
Estimated Value: $586 million
Dorsey is currently working on Square, a successful mobile payment platform. Although Dorsey’s name is often linked as being an instrumental part of Twitter’s development, a recent New York Times article questioned his leadership of the firm.
Estimated Value: $191.8 million
Fun fact: Dick Costolo was a former standup comic. That’s why when tech academic Vivek Wadhwa criticized Twitter’s all-male board of directors in the New York Times, we could expect tweets like this:
Adam Bain, president of global revenue, 40
Total Shares: 1,785,818
Estimated Value: $44.6 million
Twitter hired Bain from News Corp in 2010. The company increased revenues from $28.3 million in 2010 to $316.9 million in 2012.
Peter Currie, director, 57
Total Shares: 300,000
Estimated Value: $7.5 million
Currie was the CFO of Netscape during its heyday in the 1990s. He also advised Facebook CEO Mark Zuckerberg about financial matters in 2009.
Total Shares: 291,666
Estimated Value: $7.3 million
Apart from sitting on the board of Twitter, Rosenblatt is also the CEO of 1stdibs.com, an online marketplace for luxury, vintage goods.
Peter Fenton, director, 41
Total Shares: 31,568,740
Estimated Value: $789 million
Fenton is a venture capitalist and general partner at Benchmark, which owns 6.75% of Twitter. Although some reports say that he might not personally pocket his firms stake in Twitter, even if that is what the SEC filing would suggest. Benchmark invested in the company when it only had 30 employees in 2009.
Even though Chernin has zero shares, his name is still listed on the SEC filing. He received a $3.7 million payout, according to the Hollywood Reporter.
Of course, these aren’t the only people with a lot to gain from the Twitter IPO. So-called 5% stallholders including Rizvi Traverse, J.P. Morgan, Spark Capital, Benchmark, Union Square Ventures, and DST Global will make substantial profits.
And then there’s the mystery of Biz Stone
Even though the co-founder left Twitter in 2011 and isn’t on the board, his name is present on the SEC filing as having no shares in the company. Sources told the New York Times that Stone already sold most of his shares and “could end up earning just 1% of Mr. Williams’s windfall.”