Twitter honchos hit $4 billion jackpot

The co-founders of the social network rocketed into the billionaires club as shares surpassed $45 Thursday.

By MSN Money Partner Nov 7, 2013 3:33PM
(From left) Twitter co-founders Jack Dorsey, Christopher Isaac 'Biz' Stone, Evan Williams & Twitter CEO Richard 'Dick' Costolo pose for a photo on the trading floor of the New York Stock Exchange (NYSE) on November 7, 2013 in New York.

Caption: © Emmanuel Dunand/AFP/Getty Images

By Robert Frank, CNBC

Talk about a good morning.


Twitter (TWTR) co-founders Evan Williams and Jack Dorsey, along with CEO Dick Costolo, just saw their combined paper wealth soar to more than $4 billion as the company's shares popped following its initial public offering.


The stock was priced at $26 a share but had soared to more than $46 a share by 2 p.m. ET Thursday.


Williams (pictured, second from right), who with 56.9 million shares has the largest count, saw the value of his paper fortune blow past $2.56 billion. That's nearly twice the estimates for his post-IPO wealth even as late as Wednesday night.


Dorsey's (pictured, left) 23.4 million shares are now valued at $1.06 billion, officially putting him into the billionaire's club. Granted, his wealth was estimated by many to be more than $1 billion before the IPO, based on projections for Twitter and Square.


CEO Costolo (pictured, right) told CNBC this morning that the IPO was not about personal wealth. And none of the founders or executives are cashing out, instead putting all the money into the company. Still, Costolo's paper fortune soared to more than $345 million.


Of course, the Twitter trio most likely will see their stock fortunes swing wildly in the coming months. Although all of them probably would say they don't look at their stock wealth while they're trying to change the world 140 characters at a time, I'd guarantee they looked this morning.


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Tags: TWTR
25Comments
Nov 7, 2013 3:53PM
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This is proof you need money to make money. Not a single middle class can afford to buy enough stock at $26 to get rich........

 

Nov 7, 2013 4:30PM
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Only with FIAT dollars can you make a Cool $4Billion plus when you are actually losing MILLIONS each year. They make nothing and they ADD nothing to Society.  If you listen to the CEO talk about their long term plans, they currently don't really have any. That's why they needed a bunch of Suckers to get the $2Billion plus via the offering. Wall Street will just plain take any sucker to keep their fees coming while they Trade and Short any given stock. Talk about double Dipping, the Money Changers are pros at it.
Nov 7, 2013 3:51PM
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"There's a sucker born every minute".

Nov 7, 2013 4:48PM
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They won't be worth billions when they are finally allowed to cash in on those stocks.  
Nov 7, 2013 3:55PM
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Do they have to wait 6 months before selling on the open market?
Nov 7, 2013 5:05PM
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as i said what is twitter? paper nothing real who would buy this ****?
Nov 7, 2013 4:34PM
Nov 7, 2013 5:21PM
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Tweet,  Big Bucks, Tweet... Tweet

Nov 7, 2013 7:13PM
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I can't believe these guys made that much money off of a dumb premise of 'micro' blogging. I think humanity has just sunk a level lower.
Nov 7, 2013 5:08PM
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You can put the CEO and the other Founder together and they don't even have controlling 51% controlling interest in the Company. This is plain and simply put, a Gold Mine built to enrich Wall Street and hardly anyone else. The people that Tweet the most don't even care about this company. They will do the same elsewhere, just as fast. The Ad boom will likely become a Ad bust, folks are tired of continual Ad attack. Now if you sell a program that complete takes ads off a given page and only display at a time of your choosing, that would make Billions.
Nov 7, 2013 7:40PM
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LOL..and 6-12 months from now, this turd will sink to the bottom. Note to potential investors: it's still losing money and has demonstrated NO viable revenue stream. Wonder if they show these guys photos after it comes tumbling down. I have daughters in their 20's, I'm a sales rep, and don't know ANYONE who uses twitter..and yes, we are all up to speed on technology. 
Nov 7, 2013 4:24PM
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What the hell happened!? Time was, a billion dollars was talking real money . . . .
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While internet entrepreneurs are growing richer and richer,we the middle and low class are struggling to survive.I have never been the ambitious type,but as long as I have food and a roof over my head,I'm quite happy. 
Nov 7, 2013 7:53PM
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did they have lunch with Bernie Maddox before starting up?
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