Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Twitter's IPO Created 1,600 New Millionaires And A $2.2 Billion Tax Bill, Analyst Says

Julie BortNov 11, 2013, 23:48 IST

One lucky Twitter employee at the Twitter offices

Market research analyst PrivCo has uncovered an amazing stat about Twitter's IPO: It created 1,600 new millionaires, mostly from rank-and-file employees, it said in a blog post.

PrivCo keeps detailed records on private companies and calculated the new millionaires based on the shares held by insiders a day after the IPO, when shares closed at about $40.

Just for fun, PrivCo calculated the tax bill this IPO created, too: $2.2 billion:

Total Twitter millionaires created: 1,600
Total Twitter IPO California State Tax Windfall : $479 Million
Total Twitter IPO IRS Tax Windfall: $1.72 Billion