Reid Hoffman can rest easy tonight. As the founder of the first U.S.-based social network to go public, he’s just become an overnight gazillionaire. Or billionaire, at least. His 19 percent stake in the company was worth $1.5 billion when shares were trading at $81; now they’re hovering around $107.
LinkedIn shares jumped more than 140 percent in its first day of trading, peaking at $122 and valuing the company at $10 billion. For reference, that’s more than 521 times the eight-year-old company’s 2010 profits.
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