Sean Parker convinced the artist who painted Facebook's first office to take stock instead of cash - and now the guy is worth $200 million
Gregory Alan Bolcer stashed this in Startups
I wonder if it makes him richer than Banksy.
Banksy definitely under reports how much he's worth.
How it's done:
How this happened, I have no idea but the art world is a funny place; so is Facebook. And doing a mural at FB in lieu of money for shares is pretty f-ing hilarious. As my mother would say about Choe, “He’s okay at painting, but more crazy than anything else. Maybe people are just looking for crazy? Someone should pray for him…” Apparently, my mom is an excellent prayer.
We wanted the words of street art genius (and his mother) to speak for themselves first before we begin our written praises. David Choe, is a fucking genius that’s what he is. In 2005 David Choe was approached by the media startup Facebook. Facebook had just moved up the office space ladder and commissioned Choe to paint a large mural at their new headquarters. For his time and effort they wanted to pay him $60.000. Choe, however opted that he’d rather have 3.7 million in shares of the company instead. When Facebook enlisted at the stock exchange the shares were valued at $56 each. And so David Choe who had been homeless for several months of his life became the richest street artist there is thanks to this nose for business. There is no one else than him that deserves it more. One last remark, David Choes didn’t just sit his ass on the money; instead he worked, moderated, painted, filmed and documented to earn even more money. That’s how its done.