If you can't get enough of the Facebook IPO, here’s some more news to help you get your fill.
Facebook co-founder Eduardo Saverin’s choice to renounce his U.S. citizenship just days before the Facebook IPO has drawn the ire of two U.S. Senators. Senator Chuck Schumer (D-NY) and Senator Bob Casey (D-PA) question Saverin’s timing and have introduced a new bill that will ensure that expatriates pay their share of U.S. taxes regardless of where they live.
U2’s famed front man has a Facebook IPO connection. In 2009, the singer’s private equity firm purchased a 1.5 percent stake in Facebook. Today, that stake is worth an estimated $1.5 billion.
Even if you didn’t partake in the Facebook IPO or get in on the opening day action, you may already own Facebook shares, at least indirectly. Dozens of mutual funds have already purchased a stake in Facebook including funds owned by Fidelity, T. Rowe Price and Morgan Stanley.
If you watched The Social Network, then you know who the Winkelvoss twins are. Today, the twins 6 million shares of Facebook stock are now worth over $228 million.
Although there is a lot of hype surrounding the Facebook IPO and public trading, there may be better deals out there including Google and Apple. Find out what a $1,000 investment can net you if you buy Google or Apple instead.