Facebook Files $5B IPO

    Facebook Inc. signage is displayed outside the company's new campus in Menlo Park, California, U.S., on Friday, Dec. 2, 2011. Facebook hopes to accommodate over 6,000 employees on the new campus, which will spread out over a million square feet of office space when completed in mid-December 2011. Photographer: David Paul Morris/Bloomberg via Getty Images

    David Paul Morrs, Bloomberg / Getty Images

    There may be a lot more Facebook millionaires soon. The social-media company submitted paperwork to regulators for a $5 billion initial public offering, one of the largest U.S. market debuts in history. (Google’s IPO was $2 billion.) Facebook said in the filing that it made $3.71 billion in 2011. The IPO haul could raise founder Mark Zuckerberg's net worth from $21 billion to $28 billion. The filing also said Zuckerberg will sell shares in the IPO, though it didn't specify how many, and use the proceeds to pay taxes.

    Read it at The Wall Street Journal