Former Sony Boss Michael Lynton Made $73 Million Today on Snap IPO

Michael Lynton stepped down as the CEO of Sony Entertainment earlier this year to focus on his role as the chairman of camera-based social network Snap Inc. — and the well-compensated former studio boss just became a whole lot richer Thursday.

Snap had its long-awaited IPO Thursday, which saw its shares skyrocket 44 percent from their $17 a share offering price, valuing the company at $28.3 billion. That’s more than Dish Network, nearly two times as much as Viacom, and almost triple the...

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