When Ford went public around 1956, the man who ran that got $250,000, about $2.8 million today, with much higher taxes than today. But he also got a thank you letter from Henry Ford II, so he had that going for him.
That was the largest IPO at the time, very complicated. I believe all the shares offered publicly were held by the Ford Foundation, for complicated tax and dynastic reasons.
But the main point here is how little the manager of the offering received. Imagine that today. $2.8 million would be nothing.
That was the largest IPO at the time, very complicated. I believe all the shares offered publicly were held by the Ford Foundation, for complicated tax and dynastic reasons.
But the main point here is how little the manager of the offering received. Imagine that today. $2.8 million would be nothing.