David Choe to Receive $200 Million Payout from Facebook?

News has already broke that Facebook has announced a $5 billion USD IPO, ensuring that the revolutionary company will have enough revenue to continue to expand its reaches across the internet landscape. It seems this story comes with a bit of an artistic discovery as well. Noted artist and Hypebeast regular, David Choe, is in line to make over $200 million USD for his stake in the company after choosing stock over monetary payment when he was hired by then Facebook President, Sean Parker, to paint their first offices in Palo Alto, California back in 2005. It’s unknown whether Choe has already sold off portions of his stocks prior to the filing of the IPO, but one thing is for certain – Choe’s artwork could provide more money from his paintings than Sotheby’s attracted for its record-breaking $200.7 million USD auction in 2008 for work by Damien Hirst.
Photography: Brandon Shigeta/Hypebeast
Source: The New York Times

David Choe to Receive $200 Million Payout from Facebook?

News has already broke that Facebook has announced a $5 billion USD IPO, ensuring that the revolutionary company will have enough revenue to continue to expand its reaches across the internet landscape. It seems this story comes with a bit of an artistic discovery as well. Noted artist and Hypebeast regular, David Choe, is in line to make over $200 million USD for his stake in the company after choosing stock over monetary payment when he was hired by then Facebook President, Sean Parker, to paint their first offices in Palo Alto, California back in 2005. It’s unknown whether Choe has already sold off portions of his stocks prior to the filing of the IPO, but one thing is for certain – Choe’s artwork could provide more money from his paintings than Sotheby’s attracted for its record-breaking $200.7 million USD auction in 2008 for work by Damien Hirst.

Photography: Brandon Shigeta/Hypebeast

Source: The New York Times


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Posted on Friday, 3 February
Tagged as: david choe   facebook   sean parker   payout   business   artist   art  
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