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Businesses

Submission + - Facebook Could Spawn Thousands of Milionaires 1

Hugh Pickens writes writes: "Retuers reports that the world's No. 1 online social network is preparing for a blockbuster initial public offering that could create thousands of millionaires as Facebook employees past and present begin hatching plans on how to spend their anticipated new wealth. "There's been discussions of sort of bucket list ideas that people are putting together of things they always wanted to do and now we'll be able to do it," says one former employee who expects his shares to be worth $50 million and is planning to book a trip to space with Virgin Galactic that would cost $200,000 or more. "It's been a childhood dream." Another group of Facebook workers has begun laying the groundwork for its own jungle expedition to excavate a relatively untouched site of Mayan ruins in Mexico that sounds like "Raiders of the Lost Ark." But for many of Facebook's staffers, the IPO will provide the means to pay off school loans and buy a house or new car and many homeowners and real-estate agents are eagerly anticipating a surge of new buyers that could push prime real estate to new heights. "If a Facebook guy buys a house and wants to remodel it, maybe the contractor will buy another car," says Buff Giurlani. "Maybe the realtor will put a car in. There's a trickle-down effect.""

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