New Delhi: LinkedIn Co-founder and Executive Chairman Reid Hoffman is all set to mint a huge amount from its sale to Microsoft.
After all the calculations, the amount that Hoffman will take home comes to Rs 20,000 crore.
Being a founder, he holds as many as 1.47 crore shares of the company's stock. With Microsoft buying LinkedIN for Rs 1.75 lakh crore, the value of each share will be around Rs 13,198.
The numbers are much higher than that of the CEO Jeff Weiner who will be getting around just Rs 525 crore.
Microsoft, the software giant, finally agreed to acquire LinkedIn in an all-cash deal.
Following the sale, LinkedIn will retain its brand and independence with Jeff Weiner to remain the CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft.
This deal is expected to close this calendar year.
LinkedIn is one of the world’s largest and most valuable professional networks. It has been continuing to build strong and growing business throughout the last 13 years.
The company has launched a new version of its mobile app recently that has led to increased member engagement.
Also more than 433 million people use LinkedIn worldwide to network, find jobs, and reconnect with old colleagues.
Many of the LinkedIn users also pay for premium services to use the site.
