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Saturday, May 19, 2012

But first he made sure that the billions he got from the IPO wouldn't be marital property
Posted by Jill | 10:00 PM
Wow.

In California, property acquired before marriage is separate property under the state's matrimonial law (link). So if you're, say, the CEO of a multibillion dollar company that's about to go public, and if that IPO is going to make your net worth around $19.3 billion, what do you do about making an honest woman of your longtime girlfriend? Why, you wait till AFTER the IPO to tie the knot:
Zuckerberg and 27-year-old Priscilla Chan tied the knot at a small ceremony at his Palo Alto, Calif., home Saturday, capping a busy week for the couple.

Zuckerberg took his company public in one of the most anticipated moves in Wall Street history Friday. And Chan graduated from medical school at the University of California, San Francisco, on Monday, the same day Zuckerberg turned 28.

The couple met at Harvard and have been together for more than nine years.

A company spokeswoman said Zuckerberg designed the ring featuring "a very simple ruby" that he designed himself.

The ceremony took place in Zuckerberg's backyard before fewer than 100 guests, who all thought they were there to celebrate Chan's graduation.

Not taking any chances, is he? After all, if they had married BEFORE the IPO, and then split, he'd only be worth 9.65 billion. I mean seriously, that would make him practically destitute.
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2 Comments:
Blogger Jimbo said...
And you now that his lawyers totally advised him about marriage dates. Yep. This is the way the uber-rich work, especially knowing how momentary celebrity marriages can be.
5/19/12, 10:54 PM  
Blogger skywind said...
I don't know as I would call this a celebrity marriage; they have been together for years. And I am sure Dr. Chan had adequate legal advice under the circumstances, and whatever she may have agreed to was done with full knowledge of the possible consequences.
5/21/12, 8:39 AM  
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