Microsoft turns GitHub founders into billionaires

[midian182]

Recap: Following a weekend of speculation that claimed an agreement had been reached, Microsoft confirmed its acquisition of GitHub in an all-stock deal worth $7.5 billion on Monday. Not all of the code repository’s users are happy about the news, but it’s likely to have pleased its three founders, who are now reportedly billionaires that own more Microsoft shares than its CEO and president.

Bloomberg reports that about half of the estimated 73.8 million Microsoft shares will be handed to GitHub founders Tom Preston-Werner, Chris Wanstrath (pictured) and PJ Hyett. If all three control equal stakes in GitHub, they each look set to receive around 12.3 million shares in the Redmond company.

If those figures are accurate, it would mean each of the trio’s 0.16 percent holdings would give them ten times more shares than CEO Satya Nadella and around 14 times more shares than president Brad Smith. Bloomberg writes that Bill Gates would be the only insider to own more. The former Microsoft boss and one of the richest people in the world has a 1.34 percent holding in the firm.

Forbes believes the three founders will receive varying amounts of Microsoft stock, but it’s still enough to put them all in, or at least very close to, the billionaire’s club. As GitHub’s largest shareholder, CEO Wanstrath will receive as much as $1.5 billion in stock, while Preston-Werner and Hyett will walk away with around $1.25 billion and close to $1 billion, respectively.

Part of the deal will see a Microsoft vice president, Nat Friedman, take over as CEO of GitHub. Current chief executive Wanstrath will become a technical fellow at Microsoft.

Image credit: Dave Fayram

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https://www.techspot.com/news/74950-microsoft-turns-github-founders-billionaires.html

 

[VitalyT]

You can both envy and pity these guys at the same time. According to another programmer, Markus Persson, the azure of super-rich wears off quick, and then you find your old friends either gone or want something from you, plus you find out you have relatives from whom you've never heard before. This all really sucks.

Best is to become rich without it becoming public information, so nobody knows. Then you can have real freedom in your life.

 

[texasrattler]

There's never a reason to pity or feel sorry for rich ppl. They choose that life or choose to become rich, whether it be because of their skill or selling of a company. They made the choice.
They had freedom, they just like money better. Im sure most of us would take the money n deal with the aftermath of ppl wanting what you now have.

 

[mbrowne5061]

There's never a reason to pity or feel sorry for rich ppl. They choose that life or choose to become rich, whether it be because of their skill or selling of a company. They made the choice.
They had freedom, they just like money better. Im sure most of us would take the money n deal with the aftermath of ppl wanting what you now have.

Except for those born rich - Rockefellers, Gettys, etc - they didn't get a choice, but if you noticed, they are careful to stay out of the limelight for the most part.

 

[Lionvibez]

You can both envy and pity these guys at the same time. According to another programmer, Markus Persson, the azure of super-rich wears off quick, and then you find your old friends either gone or want something from you, plus you find out you have relatives from whom you've never heard before. This all really sucks.

Best is to become rich without it becoming public information, so nobody knows. Then you can have real freedom in your life.

lmao I will take those first world problems.

And replace all the friends and just keep my family.

I have no problem cutting people off.

There is a reason rich people tend to only have rich friends to avoid that nonsense.

And I would love to take advantage of all the gold diggers in the city I would be as happy as a pig in mud.

 

[VitalyT]

lmao I will take those first world problems.

And replace all the friends and just keep my family.

I have no problem cutting people off.

There is a reason rich people tend to only have rich friends to avoid that nonsense.

And I would love to take advantage of all the gold diggers in the city I would be as happy as a pig in mud.

You are talking about friends like something you pick up in a supermarket. Your friends will be of that value then.

If you cut people off just like that, people with such sentiment rarely amount to much.

And about gold diggers, you've got it wrong, they will take advantage of you, not the other way round. It is foolish to think otherwise.

 

[Stingy McDuck]

Shaggy is finally rich, now he can buy all the Scooby Snacks he wants.

...sorry, couldn't resist myself.

 

[Lionvibez]

You are talking about friends like something you pick up in a supermarket. Your friends will be of that value then.

If you cut people off just like that, people with such sentiment rarely amount to much.

And about gold diggers, you've got it wrong, they will take advantage of you, not the other way round. It is foolish to think otherwise.

To each his own friend.

I cut off people that are not worth it and will not cry a tear over it doesn't matter if I knew you 10 years. That's how I roll I do not surround myself users and questionable people.

And no I will be playing the gold diggers its calling pumping and dumping son.

When you know off the bat what they are after its easy to mind **** them.

Only people that are inexperienced with women would allow a gold digger to run all over them.

 

[p51d007]

Good for them! Capitalism at it's best. Start with an idea, grow the business, get bought out and
claim millions for their efforts.
Now, onto "the rich". I don't care if a person is broke, has NOTHING or has all the tea in China.
We all enter the world naked with nothing, and leave it the same way.
I don't care if you are a janitor or the president of the company. I treat them the same way, and
expect to be treated the same. You are nice and treat me with respect, we'll get along fine.
You think you are better than me because of your status, I'll never have anything to do with you,
or do business with you.

 

[Evernessince]

So they sold off the only thing that made them memorable for the most cliche thing ever. I think they have it backwards, money is a tool, not the end goal. You may be able to buy whatever physical goods you want but you can't buy the intangible, like the feeling of going to work on a project that's going to help people all over the world. I think Microsoft knows this feeling, they have tons of money to blow yet they still haven't found their way to their customer's good side since bill gates left.

 

[sasat]

These guys totally deserved it, I thought github will be worth more

 

[Abraka]

Sorry, but if I had a billion of dollars, then my best friends would get enough money so they don't have to ever work. They wouldn't have to ask anything from me, they would get it for free. It's not like I could spend a billion anyway, unless I'd throw it at things I don't really want or like. I don't need a super-mega-yacht. I could rent one for a month if I wanted to travel, I don't need to buy one.

So... if I had a billion dollars, close family and friends asking for a few millions, not a problem. Non-friends, that's another thing. Where were they when I needed money, that's what I'd ask them.