Facebook CEO Mark Zuckerberg's birthday marks IPO week, could help CA
LOS ANGELES (KABC) -- Facebook CEO Mark Zuckerberg celebrated his 28th birthday on Monday, but it's the state of California that is hoping to get a big gift later this week.
The social networking site is expected to go public Friday. That stock sale could put Facebook's value at nearly $100 billion, making Facebook worth more than Disney, Ford and Kraft Foods.
New figures from the state show taxes from that $100 billion could be worth a $500 million windfall to California.
But anyone looking to be among the first buyers will have a tough time. Investment banks underwriting the IPO get the first crack at shares.
At 28, Zuckerberg is exactly half the age of the average S&P 500 CEO, according to executive search firm Spencer Stuart. With eight years on the job, he's logged more time as leader than the average CEO, whose tenure is a little more than seven years, according to Spencer Stuart.
The Associated Press contributed to this report.
facebook, california, budget, business
- Venice beating caught on cam; suspects sought 9 min ago
- Baca acknowledges deputy hiring issues
- Hollywood burglary suspects caught on camera
- MoneyGram scam victims receive refund checks
- Venice boardwalk crash victims recount ordeal
- East LA coach charged with molesting 2 teens
- LAX suspect indicted on 1st-degree murder
- Yellowstone supervolcano bigger than thought
- Man kills himself, 1 other at Reno hospital
- Reporter rejects Toronto mayor's apology
- Colorado school shooter wrote plan on arm
- abcnews: Father, daughter recreate wedding photos
- Timberlake helps fan propose to girlfriend
- Photos: Meryl Streep, Julia Roberts at 'August' debut