Reuters
Twitter’s early investors and executives are not selling into the IPO, but they are getting some big paper values on their holdings.
The social-media network is looking to sell up to 80.5 million shares. Twitter’s current top holders will see their ownership slip to 51.4% of shares outstanding after the deal, thanks to dilution from the offering.
The biggest personal stake belongs to Evan Williams, a co-founder and former CEO, who owns 12% of Twitter now and will own 10.4% after the IPO, according to the filing. At the top of Twitter’s $17- to $20- per-share price range, Mr. William’s stake would be worth $1.14 billion.
Jack Dorsey, another co-founder, will hold about 4.3% of the company after the IPO, a stake worth $469 million. Richard Costolo, the CEO, would have a 1.4% stake worth $153 million.
The biggest single holder is private-equity firm Rizvi Traverse, which will own 15.6% after the deal. The stake will be worth $1.7 billion, at $20 a share.
Here are the disclosed holders, what they own now and what that percentage will slip to after the offering.
Holder Before Offering After Offering Shares Value at $20/share
Richard Costolo 1.6% 1.4% 7,675,239 $153,504,780
Jack Dorsey 4.9% 4.3% 23,453,017 $469,060,340
Peter Fenton 6.7% 5.8% 31,568,740 $631,374,800
Evan Williams 12.0% 10.4% 56,909,847 $1,138,196,940
Rizvi Traverse 17.9% 15.6% 85,171,093 $1,703,421,860
J.P. Morgan 10.3% 9.0% 48,849,820 $976,996,400
Spark Capital 6.8% 6.0% 32,414,224 $648,284,480
Benchmark Capital 6.6% 5.8% 31,567,052 $631,341,040
Union Square Ventures 5.9% 5.1% 27,838,992 $556,779,840
DST Global 5.0% 4.4% 23,744,745 $474,894,900
UPDATE: An earlier version of this post had an incorrect headline. Twitter’s CEO Evan Williams owns $1.3 billion of Twitter stock. He owns $1.14 billion.