And, if that's not enough, he's entitled to receive another 36.8 million shares over the next three years as a "CEO Award" for taking the company public, according to Snap's IPO filing. Before, the company was privately held, meaning there was no public market to buy and sell Snap shares.
Traders on the floor of the New York Stock Exchange are now waiting for the first trades in Snapchat, one of the most highly-anticipated public debuts on the NYSE in years.
Though it is traditional for stock to rise in value in its first day of trading, the increase suggests early investor excitement around Snapchat, which re-branded as a Snap Inc and as a camera company in late 2016.
The company priced its share at $17 in its IPO, giving it a valuation of around $24bn, but the opening trading price was much higher than that, even though the company has never posted a profit.
The value of Snapchat's owner has soared on its New York Stock Exchange debut after a flotation that valued the company at an initial $24bn (£19bn).
For Snap, which started its official bid to go public last Halloween, the looming question now is whether investors are in for a trick or a treat.
Snapchat has become hugely popular with young smartphone users keen to share messages that don't stay on the web for long.
But its user growth has slowed down in recent months.
The feature, which was previously unique to Snapchat, plays photos and videos shared by users in a loop for 24 hours before they disappear.
Yet among the attractive figures for investors are Snap's average of 158 million active daily users. "It's definitely a function of how Snap is perceived-not every company could get away with this", says Thomas Ivey, a partner at law firm Skadden, Arps, Slate, Meagher & Flom, who is based in Silicon Valley.
Evan Speigel is 26 years old. Nevertheless, it looks like there's still some air left in the social media bubble. Snap is issuing and selling 145,000,000 shares of Class A common stock and the selling stockholders are selling an additional 55,000,000 shares of Class A common stock. Twitter's valuation, in comparison, is $11 billion.
Some users have been greeted with a pop-up messaging alerting them the new service will soon be available for $5/month. Apple Music said it hit 20 million in December, adding 3 million subscribers in three months at that time.
Twelve policemen have been killed in an "insider attack" in the southern Afghan province of Helmand, officials say. Lashkar Gah has come under increasing threat from Taliban fighters as the militia now control most of Helmand.
Kazakhstan, Egypt, Ethiopia abstained. "It was forced through to a vote while council members still have differences", he said. He added that, at the same time, the Syrian government's requests on the investigation are treated in a dismissive manner.
He said they have had invitations to speak at different dicasteries and "we have already received new invitations". But others in the Vatican resisted the commission's work, Collins says, leading to " constant setbacks ".
Sell-side analyst recommendations point to a short term price target of $17.6 on the shares of ON Semiconductor Corporation (ON). Pinnacle Associates Ltd. raised its position in shares of Lattice Semiconductor Corp by 0.8% in the fourth quarter.
LG is reportedly looking forward to give stiff competition to HTC as it has partnered up with Valve to develop a VR headset. LG will be one of the first companies to offer a high-end alternative to Oculus and HTC/Valve's virtual reality headsets.
It should be expected both Mike Tomlin and Kevin Colbert will make an appearance at some of the more established college Pro Days. They have three picks in the fifth round, and one each in the first (22nd overall), second, third, sixth and seventh.
When I saw the news this morning, I thought I perhaps had slept in until E3 - which (unfortunately) is still a few months away. You'll then have a window of 30 days to play the game offline, before you have to sign in again to continue to access it.
Albanian is now only an official language in areas of Macedonia where Albanians make up at least 20 percent of the population. Macedonia narrowly avoided civil war in 2001 after an uprising by armed ethnic Albanian groups seeking greater rights.
The Catholic Pontiff disclosed this during a visit to Rome's Anglican church, to mark the 200th anniversary of its opening. Pope Francis added that such a visit would only be for a single day "because the situation is hard there".
But a 99-year-old woman from Netherlands had a rather odd goal to achieve - to get arrested. The woman named Annie says she had always wanted to "experience a police cell from within".
Markets Right Now: Stocks open lower on Wall Street
The S&P 500 index gained 25.09 points to 2,388.73 while the tech-focused Nasdaq Composite index was up 53.44 points at 5,878.88. Investors sold off government bonds and sent the yield on the 10-year Treasury from 2.35% to 2.46%.
Trump Set to Ditch Controversial Water Rule
Obama's Clean Power Plan. "I gather that this rule puts a huge percentage of the acreage in Florida under jurisdiction". Legal experts say it could take years for the Trump administration to dismantle the Waters of the usa rule.
Is it time to panic about a new deal for Terrelle Pryor?
Jackson did say they are still looking to upgrade the position, but it doesn't seem to be the most pressing issue in Cleveland. The Cleveland Browns now hold the No. 1 pick in the 2017 NFL Draft , and there is still a chance they surprise all of us.
BMW Where Tupac Was Shot Now For Sale
The 1996 BMW 750iL has been listed for sale by California memorabilia dealer Moments in Time , the Associated Press points out. The seller posted a listing for the auto online - complete with a series of new pictures of the 21-year-old cruiser.
Xenophobic attacks: Senate names delegation to South Africa
Abubakar Bukola Saraki, has nominated the Deputy Senate President, Ike Ekweremadu, to lead a Senate delegation to South Africa. We have been talking to you based on the report of the Senate committee with the Foreign Affairs Ministry in April, 2015.
Mesothelioma Research One Focus of Rare Disease Day
Lack of awareness and scientific knowledge in rare diseases often leads to misdiagnosis or late diagnosis and delayed treatment. That explains why 43% of individuals with a rare disease is treated only for symptoms, with inadequate care, for the most part.
Why the iPhone 8 deserves USB-C
Beyond a new display, the same sources say Apple is planning other upgrades to differentiate the iPhone 8 from the iPhone 7. The same report also adds that the next iPhone "would also do away with a physical home button".