GI Money / Business / David Choe: Graffiti Guy to Facebook New Millionare

David Choe: Graffiti Guy to Facebook New Millionare

David Choe has got talents with more than just a spray can. He is a master of his trade as well with oils, acrylics and other media. What he never would have imagined is his finance prowess. His story is one lesson in right place, right time, right decision. He is an artist and creative entrepreneur. He does make a living from creating murals and graphics for money. Although, some of his early work began as pro-bono art; also known as graffiti or vandalism, depending on who you ask.

Here’s the thing about Shawn and Mark Zuckerberg. I didn’t really know anything about Facebook or think anything of it. I believed in Shawn. In the same way, those guys loved my art.

David is also risk taker. He would spend many a time in Vegas, losing all his money, and then coming back for more. Interesting to note, he incorporated a savings plan in his strategy. He would save a part of his winnings and separate it so, as not to use it. He enlisted a friend to hold him to this pattern. In an interview with Howard Stern, he mentions how his bet higher tactics won him about one million dollars in a year.
Instead of the typical I lost it all story, this Korean-American he went on to make even bigger scores. After accumulating a cool million from a gambling, he went on to adjust (increase) the price of his art. This is every artist’s secret desire. He had already been making a living from creating art, but it wasn’t until an overseas phone call, that he scored really big.

I would gamble my entire two month’s salary from Toys “R” Us. From age 15 to 23, I lost everything, every time.

In his various business dealings, he had painted some interior walls for an Internet company in Palo Alto 2005. He was finally contracted by Sean Parker (Napster & Plaxo mogul) after having been contacted several times in the past, but had been unable to finalize a deal due to legal issues surrounding his potential client. Third time’s the charm, as David was able to get some work from Mark Z. and Shawn P. painting the walls again for the new relocated Facebook office back in 2007.
David Choe had a decision to make, as all small business owners know too well. He was offered payment in the form of either $60,000 in stock options, or regular old cash. Being that David was sitting on a large bank account already, he figured he’d gamble one more time. David was intrigued with “something” about Shawn, so he risked a little again.
Fast forward today, David Choe is sitting on a nice chunk of digital change. He has become somewhat of a celebrity recently, due to a story in the New York Times regarding the piece of Facebook stock he owns. With all the spotlights pointing at Mark Zuckerberg and his decision to file for one of the most anticipated IPOs (initial public offering) since Google, David Choe is uncomfortably in the public’s eye. His investment of time and spray paint, will yield a ridiculously high return. The sum of David’s stock is estimated to come in around $150 million. Unfortunately, this has robbed him of a commodity he treasured…privacy.

About $150 to 200 million dollars was the price of losing his privacy.

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