The 11 Huge Winners From The Goldman IPO: Where Are They Now? (2024)

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Katya Wachtel

When Goldman went public in 1999, the firm's partners banked millions of dollars each.

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Some of their stakes were worth over $100 million.

Former partners told Dealbook that at the time of the IPO, a 1% stake was worth about $165 million, when it priced at $53 per share.

By that estimation, that means that the combined stakes of the 221 partners were worth about $16.5 billion altogether.

The 11 Huge Winners From The Goldman IPO: Where Are They Now? (1)

(For our calculations, based on that number, 0.1% was worth about $16.5 million at the time of the IPO).

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Robert Steel owned 0.9% worth about $148.5 million

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Wikipedia

At Goldman: Vice-Chairman

Then: Under Secretary for Domestic Finance at the Treasury; CEO of Wachovia

Where is he now? He's deputy mayor for economic development in New York.

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Michael Mortara owned 0.9% worth about $148.5 million

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Georgetown

At Goldman: Co-head of FICC.

Then: President of a Goldman-backed business called GS Ventures.

Where is he now? He died in 2000 in Connecticut.

Richard Friedman owned 0.9% worth about $148.5 million

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Where is he now? He's still at Goldman Sachs, where he's the head of merchant banking. He's also a member of the Management Committee, the Real Estate Principal Investment Committee and chairs the Investment Committee.

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Daniel Neidich owned 0.9% worth about $148.5 million

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At Goldman: He was on the the Management Committee and co-head of Merchant Banking.

Where is he now? He's the CEO of private equity firm Dune Real Estate Partners

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John McNulty owned 0.9% worth about $148.5 million

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SJU

At Goldman: Was head of Investment Management and sat on the Management Committee.

Then: Continued to be a senior director at Goldman. He also sat on the Board of Trustees at Wharton School, chaired St. Joseph's University's Finance Committee and was an advisory director at the Metropolitan Opera.

Where is he now? He died in 2005 in Florida.

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John Thornton owned 1.05% worth about $173 million

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At Goldman: President and Co-COO, who founded Goldman Sachs' European M&A business.

Then: Professor at Tsinghua University in Beijing, and remained a director at Goldman.

Where is he now? He's still a professor at Tsinghua University in Beijing, and is also a director at Intel, Ford, HSBC and News Corp. Plus he's the Chairman of the The Brookings Institution.

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John Thain owned 1.05% worth about $173 million

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At Goldman: President and COO, and also headed mortgage desk for a period.

Then: CEO of Merrill Lynch and the NYSE

Where is he now? He's the chairman and CEO of CIT

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Robert Hurst owned 1.1% worth about $185 million

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Wharton

At Goldman: Director and Vice-Chairman, was Co-Head of Investment Banking

Then: A director at numerous public companies including ValueOptions and V.F Corporation.

Where is he now? He's a partner at Crestview Partners and is still a Goldman director. He's also on the Council on Foreign Relations and sits on numerous boards.

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Hank Paulson owned 1.25% worth about $206 million

The 11 Huge Winners From The Goldman IPO: Where Are They Now? (11)

At Goldman: Managing partner and CEO of Goldman Sachs

Then: Treasury Secretary under George Bush

Where is he now? He's a fellow at Johns Hopkins University's School of Advanced International Studies.

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Jon Corzine owned 1.25% worth about $206 million

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At Goldman: Managing partner and CEO of Goldman Sachs

Then: Democratic Senator and Governor of New Jersey.

Where is he now? MF Global chairman and CEO

Of course, you know where a ton of these guys went after Goldman, to the government

The 11 Huge Winners From The Goldman IPO: Where Are They Now? (13)

THE REVOLVING DOOR: 29 People Who Went From Wall Street To Washington To Wall Street >

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The 11 Huge Winners From The Goldman IPO: Where Are They Now? (2024)
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