Monday, May 21, 2012

Facebook employees have millions. Now what?


When Facebook CEO Mark Zuckerberg rang the Nasdaq opening bell on Friday to mark Facebook's public debut, he also rang in a crop of new millionaires and billionaires.
It's a rite of passage for Silicon Valley's most successful entrepreneurs and the employees who joined their ventures early -- and so is learning how to handle that fortune. Those who have been there before are full of advice.
"Buy one thing you've always wanted," suggests Karl Jacobs, a serial entrepreneur and early Facebook (FB) advisor. "A lot of people don't celebrate the fact that they've worked really hard."
Color CEO Bill Nguyen -- who sold his last company, Lala, to Apple (AAPL, Fortune 500) in 2009 -- has a quirky suggestion: don't buy a house. Build one.
"It slows you down," he says. "All these things happen to you so quickly, you don't get the time to think about it."
Nguyen took his own advice. He used part of his fortune to build athoroughly customized tropical compound on the shores of Maui's Mokuleia Bay.



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