Facebook IPO Turns Shareholders Into Multi-Millionaires
Facebook's IPO made Mark Zuckerberg one of the richest men in the world. The question everyone is asking is, should they buy the stock now, or wait? INSIDE EDITION reports.
It's the milestone moment investors have been drooling for—Mark Zuckerberg takes Facebook public.
At a single stroke, the 28-year-old Zuckerberg became one of the richest men in the world—worth upwards of $20 billion.
As expected, Zuckerberg wore his ever-present hooodie for the historic event. It's his trademark. He was even presented with a new one at the ceremony. He also wore it when he made that surprise appearance on SNL last year.
During a technology summit, he spoke of his hoodie obsession.
"I never take it off," said Zuckerberg.
But when it got too warm under the lights, he finally did take it off, and for the first time, revealed what's inside. It's a company logo.
One of the rare occasions when Zuckerberg wore something other than the hoodie was when Facebook hosted the president, who didn't let the occasion pass unmarked.
"My name is Barack Obama and I'm the guy who got Mark to wear a jacket and tie," said President Obama.
But some experts wonder whether it's time Zuckerberg lost the hoodie.
Financial expert Michael Pachter said, "As CEO, he should want to embrace all investors, and I think he should say, 'I care enough to dress appropriately for the occasion.' "
Others disagree, saying Zuckerberg is just being true to his independent spirit that led to the creation of Facebook.
Facebook's first day of trading at the Nasdaq exchange in Manhattan is the second-largest in American history, beaten only by Visa in 2008.
Mark Zuckerberg wasn't the only one who made off like a bandit. Scores of his employees and other shareholders have become multi-millionaires overnight.
INSIDE EDITION's Paul Boyd asked CNBC's Kayla Tausche the key question everyone wants to know:
"Do you believe that mom and pop investors should buy now or wait a little bit?"
"I think they should wait a little bit. I think you'll see a better vision of what its real profits look like at the beginning of perhaps, 2013," said Tausche.
Another big winner is the singer Bono, who owns 2 percent of Facebook and now stands to make $1.5 billion, becoming the richest rock star on earth.
A beautiful day indeed.
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