The upcoming tech IPO boom has everyone preparing for an incoming wave of newly minted millionaires
This time around, Rachleff looked at six future IPOs and the reported market valuations of their companies: Uber , Lyft , Palantir , Airbnb , Slack , Pinterest and Postmates . Of those, so far only Lyftfor an IPO, while Postmates, Pinterest, Uber and Slack are reported to have confidentially filed. Palantir and Airbnb could be expected for later in 2019.
It’s a rough estimate, he stresses, and more an indication of the order of magnitude rather than the precise number. In other words, the number of millionaires is likely to be in the single-digit thousands, not hundreds of thousands. From there, based on Rachleff’s experience, he estimates that most employees generate $500,000 in revenue a person. Dividing a $23 billion revenue figure by half a million would get to an estimated total of 40,000 employees.
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