SAN FRANCISCO -- Twitter just minted a billionaire -- at least on paper.
Evan Williams, the 41-year-old co-founder of Twitter, owns 12% of the social media company that is expected to go public next month, according to a filing with the Securities and Exchange Commission on Thursday.
Twitter has been valued on the secondary markets at about $9.4 billion, making Williams’ stake worth more than $1.1 billion.
Forbes is estimating Williams, Twitter’s largest individual shareholder, may be worth closer to $1.4 billion based on current valuations.
Fellow co-founder Jack Dorsey’s 4.9% stake is worth a cool half-billion.
Williams, the company’s former chief executive who is known to the nearly 1.7 million that follow him on Twitter as "@ev,” is no longer involved in the day-to-day operations of Twitter. He is working on a new project: an editorial website called Medium.
Notably missing from the filing: Co-founder Biz Stone. He has apparently sold enough stock not to be listed as a major shareholder.