Jack Dorsey is about to be a billionaire — on paper, at least.
The Twitter creator will be catapulted to billion-dollar-man status when his payments startup Square closes a $200 million funding round at a $3.25 billion valuation, as the New York Times reports.
PrivCo, a firm that specializes in analyzing the financials of private companies, pegs Dorsey’s reduced stake at roughly 26 percent, which would make Square an $845 million asset for the 35-year-old entrepreneur.
Dorsey, said PrivCo CEO Sam Hamadeh, also holds a 3 percent stake in Twitter worth about $258 million. Secondary markets value Twitter at around $8.6 billion.
Dorsey’s combined net worth then will be north of $1.1 billion when the Square round closes. Perhaps that cliff-side San Francisco mansion he purchased earlier this year is well-deserved.
Photo credit: Kevin Krejci/Flickr
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