The Other $200 Million Artist

David Choe stands to make $200 million when Facebook goes public, according to the New York Times:

The payout to Mr. Choe, the graffiti artist, could provide more money from his paintings than Sotheby’s attracted for its record-breaking $200.7 million auction in 2008 for work by Damien Hirst.

In 2005, Mr. Choe was invited to paint murals on the walls of Facebook’s first offices in Palo Alto, Calif., by Sean Parker, then Facebook’s president. As pay, Mr. Parker offered Mr. Choe a choice between cash in the “thousands of dollars,” according to several people who know Mr. Choe, or stock then worth about the same.

Mr. Choe, who has said that at the time that he thought the idea of Facebook was “ridiculous and pointless,” nevertheless chose the stock. […]

Although Mr. Choe initially led a rough life including run-ins with the law, he is wealthy even without the Facebook offering. (It is unclear whether he sold any portion of his Facebook holdings on secondary markets.) Now a very successful artist with gallery shows and pieces exhibited in major museums, Mr. Choe declined requests to be interviewed for this article; he said he wanted to maintain his privacy. He has, however, published an obscenity-strewn book of his art, “David Choe,” which includes images of the multimillion-dollar murals at Facebook.

From Founders to Decorators, Facebook Riches (New York Times)