Looking back on last week’s results, the limited character mini-blog social media website Twitter did quite well as they went public. Within hours, the stock’s share price almost doubled from the initial offering price. Now, as we had a weekend to take a look at the numbers we can take a look at just how well some of the Twitter shareholders really did. Diving further, we’ll even look at how what kind of tax bill will be generated from the $2 billion plus already generated in the first few days.
(Photo credit to: InvestmentNews.com)
Twitter IPO Creates Overnight Millionaires
While it takes many individuals years, decades, or lifetimes to reach the million mark (if they are even lucky enough to reach it) just a little less than two thousand individuals woke up in a new class and tax bracket. In total the Twitter IPO created about 1,600 millionaires, many of which were the hardworking employees that had contribute a great deal of their lives to Twitter’s success. Though most were rank & file employees, not all of them were. Some individuals were lucky enough to strike big as the IPO closed at $40 last week.
Other Twitter IPO Results
Besides figuring out the Twitter millionaires private company records keeping PrivCo also calculated the approximate tax bill amount that reflects the already generated $2.2 billion from this recent tech IPO. Apart from the new 1,600 millionaires, the State of California tax windfall totals about $479 million with the total IPO IRS tax windfall totaling $1.72 billion.
Twitter IPO Roundup
With only a few days on Wall Street under their belt, Twitter has left quite the impression. Many analysts are predicting that this is only the beginning of Twitter’s rise, offering graphs and charts to support their claims.
To see what they predict for this San-Fran based company click here.
As always, time will ultimately determine Twitter’s overall success. Unfortunately, they’re not the first tech IPO to start big only to fall quickly. Now that they’ve gone public they will need to do much more to assure their investors that they are taking the proper steps and utilizing the right strategies so everyone can reap the rewards.
What do you think? Will Twitter keep the momentum, or will they lose it and see drops comparable to Facebook, Groupon, and LinkedIn?
The post Twitter IPO Makes Millionaires appeared first on StockRockandRoll.