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
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