Groupon, the Chicago-based tech company, announced recently that it will present its customers and competitors with an IPO (initial public offering) sometime soon.
Groupon also announced that this IPO will likely be worth about $30 bullion. And, if that estimate is correct—as most financial experts believe it to be—then Groupon’s three co-founders and major shareholders will soon become some of the richest men in Chicago.
The first of these co-founders, Groupon chairman Eric Lefkofsky’s stock would be worth roughly $6.48 billion immediately after the IPO, and he would become the richest man in Chicago. Groupon founder and CEO Andrew Mason’s stock would be worth $2.31 billion. And Groupon co-founder Brad Keywell’s stock would be worth $2.07 billion.
This means that these three men could quickly become richer than any Wrigley, Pritzker or Crown still living in Chicago. They’d be richer than Oprah, too. And it remains to be seen what, exactly, they’d do with all that money.
Many financial experts seem to think that, as young, tech savvy professionals, they would invest the money in new, exciting tech ventures.
And many real estate experts believe that they would choose to invest at least some portion of their considerable income in real estate. They believe, specifically, that these young entrepreneurs will begin to buy up property in and around the Chicago area.
Many people also believe that these three men would donate a large portion of their incoming income to charities and non-profits. This belief seems particularly likely, as the co-founders have long had a history of charitable giving.
As of now, it’s impossible to know what Lefkofsky, Mason, and Keywell will do with their windfall income. Chicagoans can only hope that they will continue to invest their capital in Chicago, and that they will continue to donate some of their income to Chicago charities and non-profits.
For more information about Chicago’s wealthiest and most powerful players, check out this CondoDomain article.