One big data realtor estimates 5,000 employees across eight companies could become millionaires after their company goes public in 2019.
At least 5,000 tech workers could become millionaires after their companies go public later this year, according an analysis from a big data realtor in Silicon Valley.
A new recordThis year’s 5,000-plus tech IPO millionaires would surpass the estimated 1,000 millionaires who emerged in 2004 from Google’s IPO and the 1,000-plus millionaires in 2012 after Facebook went public. That this year’s crop will surpass those time periods probably isn’t surprising given the number of companies marching towards an IPO in 2019. But it does speak to sheer amount of wealth that’s about to flood the San Francisco Bay Area.
The biggest impact“The biggest impact from the imminent 2019 IPOs will be felt on the luxury end of the residential rental market, with the most likely zip codes affected being those within a short commute from the new public companies' headquarters, like Uber and Airbnb,” Georgiades explains, pointing to San Francisco neighborhoods such as South of Market.
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