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Evan Spiegel just got an $800 million bonus for taking Snap public
Snap cofounder Evan Spiegel just became $800 million richer. The 26-year-old CEO has been officially awarded roughly 37 million additional company shares, according to a regulatory filing with the SEC. At Snap's closing share price of $21.44 on Tuesday, Spiegel's bonus is worth roughly $800 million. Before Snap's IPO, the company explained that Spiegel's so-called CEO award was intended to "motivate him to continue growing our business and improving our financial results so that we could undertake an initial public offering, which we regard as an important milestone that will provide liquidity to our ... (full story)