You can already find Walmart board member and billionaire Jim Breyer on the Forbes 400 list. And with Facebook set to launch its IPO this Friday, Breyer is on the brink of cementing his place among the 1%.
As one of Facebook’s biggest shareholders, Breyer’s stake in the company is estimated to be worth about $510 million. Facebook shares will have a price between $28 and $35, with the company valued at up to $96 billion. Breyer and his venture capital firm, Accel Partners, were both early investors in the company. Accel has a 10% stake in Facebook, and Breyer himself has a 0.6% stake.
To put it in perspective, that’s the annual pay of 32,743 Walmart associates working full time at Walmart’s average wage. Or, that $510 million could buy 3.4 million bottles of the Krug Champagne like the kind featured at Accel Partners’ annual wine party in Davos this past January. Maybe Breyer would prefer to buy a signed and framed Jimi Hendrix guitar (after all, his Twitter name is @jimihendrixlive). In fact, he could get 64,500 of them.
What would you do with $510 million?