Local Firm a Big Facebook Investor

When Internet behemoth Facebook goes public in May, one Owings Mills-based company will watch the social networking site's IPO (Initial Public Offering or stock market launch) with interest.

, headquartered in Owings Mills, has a $400 million stake in Facebook through its mutual funds, The Baltimore Sun reported.

The investment firm initially put more than $190 million in Facebook last spring, the story continued.

Facebook announced its $5 billion public offering Wednesday. The company is valued between $75 billion and $100 billion.

Projections indicate Facebook's Initial Public Offering will create 1,000 new millionares.

But no one will fare better than CEO and founder Mark Zuckerberg, who stands to be worth some $24 billion by May. Zuckerberg collected a salary of $1.49 million in 2011, USA Today reported.

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