You’ll have to forgive AOL CEO Tim Armstrong for smiling so much lately. See, Armstrong just learned that he could rake in roughly $180 million after Verizon completes its acquisition of AOL.
According to The Wall Street Journal, Armstrong is the biggest shareholder of AOL stock. His 1.68 million shares have a market value of $84 million, but since Armstrong used some of his own money to build up that stock, selling the shares will net him about $59 million.
Armstrong was also awarded AOL stock options with varying exercise prices. If he decides to exercise those options, Armstrong adds another $120 million chunk of change to his name.
In the end, Armstrong could be sitting on roughly $180 million as a result of Verizon taking over AOL. So yeah, forgive the man if he is smiling like an idiot. That much cash would make anyone act ridiculous.