Just How Jealous to be of Chad & Steve
Google filed today a regulatory form registering beneficiaries from its purchase of YouTube to sell stock. In doing so, it revealed approximately how much people with a significant stake in YouTube stand to make from sales of their shares.
YouTube founders Chad Hurley, Steve Chen, Jawed Karim are indeed fabulously wealthy, the filing confirmed. With a Google share closing price of $470.01, the Wall Street Journal calculated, Hurley’s shares are worth $345.6 million, Chen’s $326.2 million, and Krim’s $64.6 million.
Venture capital firm Sequoia Capital’s shares are worth about $442.3 million, after providing $11.5 million worth of funding over two rounds.
Want to see how rich all the members of Hurley and Chen’s families are? The filing has the share breakdown.
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[…] This is scary… Google filed today a regulatory form registering beneficiaries from its purchase of YouTube to sell stock. In doing so, it revealed approximately how much people with a significant stake in YouTube stand to make from sales of their shares. […]
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— 3:08 AM on February 8, 2007
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Unreal. Even the Chen family made over 8 mill each. I wonder how much they ponied up.
Why on earth that google stock continue to go higher while its own executives have been selling like a mad fiend! $7.8 billion in less than 2 years!!!
http://www.secform4.com/insider-trading/1288776.htm
I wonder if there are any restriction on the sale of the securities. They are still executives, so there must be insider trading rules that apply here.
Given YouTube’s inability to close major deals with content owners, I presume Chad and Steve are laughing their way to the bank.