How a graffiti artist tagged Facebook for a $200M payday

David Choe's choice of stock over cash for murals was the real art of this deal
FEB 21, 2012
By  Bloomberg
In the art world, fortunes are usually made when a wealthy collector invests in works by a young talent and sees his or her art rise in value along with the artist's reputation. In the case of graffiti artist David Choe, those roles have been more or less reversed. In 2005, Mr. Choe was invited by Sean Parker, then Facebook's president, to paint graphic sexual murals at its Palo Alto, Calif., offices, according to an article in The New York Times. As payment, Choe was offered the choice of “thousands of dollars” or stock in the startup. Despite feeling that Facebook was “ridiculous and pointless,” he chose the shares, amounting to 0.1% to 0.25% of the company, according to one ex-Facebooker's guess. When Facebook goes public, Choe's windfall stands to be around $200 million — that is, if he hasn't sold some of his shares already. As a successful artist with gallery shows and pieces in major museums, Mr. Choe wasn't hurting before, though. Facebook has moved its headquarters since 2005, but the murals were salvaged. Facebook CEO Mark Zuckerberg commissioned Mr. Choe in 2007 to paint murals at the company's new headquarters.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave