Facebook Inc.’s initial public offering is poised to create some 850 new millionaires, spawning a new class of angel investors looking to help other startups build on the popularity of the biggest social network.
Mark Zuckerberg remains one of the 30 richest people on Earth after shares of Facebook Inc., the world’s most popular social networking company, hovered near the initial public offering price in its trading debut.
Facebook Inc. co-founder Dustin Moskovitz sold 450,000 shares in the operator of the world’s largest social-networking website, the latest holder to divest holdings after a lock-up restriction expired last week.
Facebook Inc.’s initial public offering may value Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google Inc.’s co-founders and almost on par with Larry Ellison, who started Oracle Corp. 35 years ago.
The U.S. Supreme Court struck down much of Arizona’s first-of-its-kind crackdown on illegal immigrants, ruling that states must defer to the federal government on immigration policy, an election-year victory for President Barack Obama.
The world’s richest people lost a combined $32.8 billion this week as concerns over a possible Greek exit from the euro area pushed the Standard & Poor’s 500 index to its biggest weekly loss since November 2011.