Facebook IPO Made the San Mateo County Richer than Manhattan by a Huge Margin

The county is now the richest in the United States

By on July 3rd, 2013 14:06 GMT

Facebook's IPO wasn't the greatest in history. In fact, by many metrics, it was an utter failure. Some investors lost money, others made less than they would have wished, and Facebook got plenty of attention, but not the flattering kind.

Still, the company hasn't exactly been hurting. It's making more and more money, and investors are starting to regain faith.

As for employees or investors that had Facebook shares before the IPO, they may not be as rich as they would have hoped, but they're rich enough to make the San Mateo county in California, where Facebook is located, the richest in the US.

Average wages doubled in the last quarter of 2012, when employees were able to sell their shares to the equivalent of $168,000 per year, according to a new official report.

That's enough to make it the richest county in the US by a huge margin. The second richest county, Manhattan, had an average wage of $110,000 per year.

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