It was reported here that Facebook’s first office in Palo Alto, Calif., was painted with graphic sexual murals by Choe in 2005 when Sean Parker was Facebook’s president.
Choe had the option of being paid thousands of dollars (we’re not sure how many zeros were involved) or receiving Facebook stock worth the same amount.
Facebook’s stock is estimated to be worth $200 million when it goes public. Almost everyone can enjoy vicariously this great anecdote. But Choe’s success is unimaginable.
David Choe Net Worth 2024:
David Choe’s Net Worth is $300 million. He is an American painter, graffiti artist, graphic novelist, and muralist.
As freelancers, employees, or investors, most of us can’t replicate it. Those who try could suffer severe consequences.
Why Is David Choe So Rich?
When Facebook went public at $38 a share in 2012, the stock options for his Facebook shares were worth $200 million. (Today, the common stock is worth more than $171 per share.)
The windfall enabled Choe to spend quite a lot. He did so in unconventional ways. So, there is a lot to be learned from him which I have penned down in my article below.
Let’s use Choe’s tale as a parable instead of chasing the next hot stock. Let’s consider some lessons from David Choe:
6 Life Lessons From David Choe:
Here is the list of 6 life lessons from Dravid Choe:
1. Most Freelancers Require Cash Rather Than Stock:
Getting clients to pay what they owe is one of the biggest challenges of being self-employed, as I wrote in my post “How To Make Money Without A Job.”.
It was only possible for Choe to hold onto the stock while it appreciated that his investment paid off.
Cash would have been his best option had he needed money to pay his bills.
2. Put Your Knowledge To Work:
A company that compensates you with stock (or stock options) is investing.
If you’re not familiar with a company’s business model or if you can’t influence its bottom line, you shouldn’t buy stock in the company. When stock-option fever hit in the late 1990s, people lost sight of this fact.
Almost all pay packages, including those for secretaries and high-level executives, contained stock options.
People were able to get rich on these options, but when the market plummeted, many others found themselves holding underwater options.
3. Don’t Be surprised If You Lose Your Entire Investment:
Most start-ups don’t go public. There are many more victims of failed enterprises for every dot.com millionaire.
Independent contractors like Choe and venture capitalists are among those who received most of their compensation through stock options in failed companies.
Choe received a lot of money in return for his services. Would Facebook have been successful without Choe? In that case, the murals would have been painted for free or practically free.
4. You Should Not Put All Your Eggs In One Basket:
Choe’s investment portfolio probably included Facebook as a minuscule part at the beginning.
His net worth will likely be largely determined by when the company goes public. It would be wise for him to diversify.
5. It Is Probably Too Good To Be True If It Sounds Too Good To Be True:
We are collectively giddy and euphoric after reading the Facebook story.
As a result, we could become more vulnerable to scams and get-rich-quick schemes than usual. Do your due diligence before investing in new companies.
6. Follow Your Passion:
Choe probably didn’t think about getting rich when he took on the Facebook assignment.
It is always a good idea to do work that you enjoy. However, you might not become rich doing that. Nevertheless, you will become richer as a result.
David Choe In The Media:
David Choe Youtube Videos:
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End Note
In conclusion, David Choe’s journey as an artist highlights the importance of self-expression, risk-taking, and following one’s creative instincts.
His bold, unconventional approach to art has earned him success and recognition, not just in the world of street art but across multiple mediums.
Despite facing challenges and controversies, Choe’s ability to push boundaries and explore raw emotions through his work continues to inspire many.
His story is a testament to the transformative power of art and the rewards of staying true to one’s vision.
