These were probably given as options and at the current market price rather than Jack's super low strike price.
How do you make something valuable? Convince others it has value, and do it with only 20% of your stake.
How do you make something valuable? Convince others it has value, and do it with only 20% of your stake.
Jack already gave 15 million shares which represented 20% of his own equity back to the option pool and to a foundation to help underserved communities, and he's committed to giving an additional 40 million shares to the foundation..
He's going to give away ~75% of his ownership in the company he founded to employees and entrepreneurs in underserved communities. Whatever the price is on IPO day, this will surely amount to him giving away at least a billion dollars.
I can't fathom why people are so cynical, this is amazing.