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

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