First Name: Andrew M
Current Event Posting Number: 4
Topic: Tech
Title of article: Facebook sets $28 to $35 IPO price range
Author: Julianne Peppitone
Publication Name: CNN
Date of Publication: May 3, 2012
Length of Article: 704 words

This spring, one of the most popular companies in the world is going public, Facebook. Whether is be students in South Africa, or teachers in Canada, is seems as though everyone has been lured in by this vastly compatible social networking site. This means, when this site goes public, you'll see a lot of people become very rich very fast. These people are the employees of Facebook who all have stock in the huge company. These people are sometimes referred to as "instant millionaires." Mark Zuckerburg recently announced that the shares will be priced at around $28 to $35 a share. Seeing as the average employee has 40,000 shares, they could have up to $1,400,000 in shares. The company in total has 2.1 billion shares available, valuing Facebook as just under $75 billion. This isn't even to mention the pioneer of it all, Mark Zuckerburg. With the amount of stock he has, his net worth will jump at least $21 billion, putting him on the list of the 10 most wealthy Americans. But mark wont be keeping all of his earnings. With an enormous income, comes enormous taxes that he cannot avoid, and a lot of that money will be given up to the government.
In conclusion, this is a huge event in the tech and business world. When this company goes public, it will make a lot of money for thousands of employees and even more for Zuckerburg. Mark is going to make a lot of money in a very short amount of time, putting him in a list with some of the richest people ever. And he's only 28. This isn't even to mention that this company is growing. More and more people log on everyday, and with more people comes more money. With more money, the shares prices and rice and could ultimately make Facebook one of the superpower companies.