Snap Inc’s founders pocketed a cool $272 million each from the shares they sold in the company’s initial public offering. But that’s just a fraction of the their stakes in the company.
Snap Inc, owner of the Snapchat messaging app aimed at teens, priced its IPO at $17 a share, above the expected range of $14-$16. When trading closed Thursday, the shares were worth $24.48, a 44 percent jump.
That means that the value of what Evan Spiegel and Bobby Murphy still hold totals $5.2 billion each.
Between them, that’s about equivalent to the gross domestic product of Chad.
They could buy the four most expensive baseball teams: Yankees, Dodgers, Red Sox and Giants.
Or, if they didn’t want to be tied down, they could each buy about 65,400 Tesla S 75D's to travel the open road.