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

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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.

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 market cap of Twitter. And if its stock rises modestly in the near future, Snap could pass Nintendo and CBS.

Lynton holds 2,964,733 shares in Snap, which are valued at a cool $72.6 million at the company’s first-day closing price of $24.48 a share. He also sold nearly $1 million worth of stock in the IPO.

Also Read: Snap Stock Surges 44 Percent, Company Worth More Than Dish Network

The former studio chief joined Snap’s board in April 2013 and became its chairman in September 2016. Lynton bought 293,340 shares of Snap’s Series C preferred stock in January 2014, paying about $3.41 a share for a total price of nearly $1 million.

Lynton stepped down from Sony in January after 13 years at the studio, which has struggled in recent years to keep up with its competition. Sony finished 2016 fifth out of major studios by domestic market share and is seventh thus far in 2017 — although its “Resident Evil: The Final Chapter” has been a massive hit in China and other Asian markets. He’s now focused on a new challenge, and has been compensated handsomely to do so.

The Sony Hack's Key Players: Where Are They Now? (Photos)

Amy Pascal
Sony's co-chairman stepped down in February 2015 and started her own production company, Pascal Pictures, with a four-year contract for funding and distribution through Sony Pictures Entertainment (SPE). She is producing the all-female "Ghostbusters" film and the "Spider-Man" reboot.

See Video: Amy Pascal Says She Was ‘Fired,’ Talks Leaked Sony Emails and Angelina Jolie
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Michael Lynton
Lynton remained as chairman and CEO of Sony Pictures Entertainment until announcing his resignation in January 2017. He installed TriStar Productions chief Tom Rothman as head of Sony's motion picture group.

See Video: Michael Lynton Says People Still Read His Stolen Sony Emails, Though He Hasn’t

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Tom Rothman
Rothman is now the Chairman of Sony Pictures Entertainment’s Motion Picture Group, replacing Pascal after she stepped down from her post in February 2015.

Also Read: New Sony Movie Chief Tom Rothman Calls Studio ‘Unbroken, Unbowed’ After Hack
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Steve Mosko
Mosko served as the Head of Television Division of Sony Pictures Entertainment from 2001 until October 2015, when he was made Chairman of Sony Pictures Television -- until he announced he was stepping down in June 2016.

Also Read: Sony TV Promotes Steve Mosko to Chairman
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Scott Rudin
In a hacked email, the producer said Angelina Jolie "was seriously out of her mind" in jostling over David Fincher's next project (either "Steve Jobs" or her planned "Cleopatra"). "I’m not destroying my career over a minimally talented spoiled brat,” he added. Rudin went on to produce "Steve Jobs" -- with director Danny Boyle, not Fincher -- and the underperforming 2016 comedy "Zoolander 2."

Also Read: Sony’s Amy Pascal and Scott Rudin Apologize for Racially Insensitive Remarks About President Obama
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Clint Culpepper
Screen Gems' president called Kevin Hart a “whore” in an email to a colleague after the actor sought an increase in salary for his personal promotions.

Hart responded, “I worked very hard to get where I am today. I look at myself as a brand and because of that I will never allow myself to be taken advantage of.” Culpepper is still president of the production company.

Also Read: Sony Leak: 28 Lies Hollywood Agents Tell Studio Executives About Their Actor Clients
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Angelina Jolie
Producer Scott Rudin had harsh words for Jolie regarding her plans to develop a new version of "Cleopatra." The project never came together, but Jolie will soon release "By the Sea," a drama she wrote, directed and stars in with husband Brad Pitt.

Also Read: 11 Revelations From WikiLeaks’ Sony Hack Emails
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Leonardo DiCaprio
In an email, Sony's then-co-chairman Amy Pascal called DiCaprio "despicable" when he backed out of "Steve Jobs." The actor stars in the upcoming drama "The Revenant."

Also Read: Leonardo DiCaprio Eyed to Play Steve Jobs; Danny Boyle in Talks to Direct
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Seth Rogen and James Franco
The hack revealed that Rogen made $8.4 million for co-directing and acting in "The Interview," while co-star Franco received $6.5 million. The film's overall budget was $44 million and included $241 for a “table of weed, coke, pills and panties," as well as $74,000 for two tigers, their handlers, and special “tiger accommodations.”

Rogen recently starred in "Steve Jobs" and has six more projects lined up, including "Neighbors 2." Franco also has multiple projects in the queue, including directing "The Long Home."

Also Read: Sony to Release ‘The Interview’ in Theaters, on VOD Despite Threats (Exclusive)
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Kevin Hart
Screen Gems President Clint Culpepper called Kevin Hart a “whore” in an email to a colleague after the actor sought a salary bump. “I worked very hard to get where I am today," Hart responded. "I look at myself as a brand and because of that I will never allow myself to be taken advantage of.”

The actor just completed "Ride Along 2" for Universal.

Also Read: Kevin Hart Teaches Will Ferrell Prison Trash Talk in ‘Get Hard’ Deleted Scene (Exclusive Video)
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David Fincher
In an email with the subject line “Well it ain’t ME,” the director who almost directed "Steve Jobs" blames the studio for the many leaks on that film -- compared to the more tight-lipped studios like Fox, with whom he worked on "Gone Girl."

“I had 15 meetings with Rosamund Pike [for "Gone Girl"] and her DEAL CLOSED before Variety OR The [Hollywood] Reporter ever ran a single blurb,” he said. “This is a CONTINUAL PROBLEM WITH SONY." Since then, Fincher has focused on producing Netflix's "House of Cards."

Also Read: Steve Jobs Biopic: David Fincher Not in Talks to Direct, But He’s Taking the Meeting
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Michael de Luca

The president of production at Sony, proved true all the gossip that surrounded his taking the studio job. The "Fifty Shades of Grey" producer left Sony in April 2015 shortly after Tom Rothman's promotion and took a producing deal with Universal.
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Michael Fassbender
In an email conversation with Sony's then-co-chairman Amy Pascal, screenwriter Aaron Sorkin was blunt about Fassbender, with whom he would end up working on "Steve Jobs." "I don't know who Michael Fassbender is and the rest of the world isn't going to care," Sorkin said. No doubt responding to the actor's frontal-nude scenes in "Shame," producer Michael de Luca wrote, "He just makes you feel bad to have normal-sized genitalia."

Also Read: ‘Steve Jobs’ Review: Michael Fassbender Bolsters an Incomplete Portrait of Apple Mogul
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Willow and Jaden Smith
Tom Rothman wrote an email to Sony's then-co-chairman Amy Pascal, showing her an interview with the Smith kids and saying, "1. Read this," 2. they r home schooled: don’t let this family date your movies!!!"

However, Jaden filmed "Karate Kid" with Columbia Pictures and there had been talk of a sequel.

Also Read: Willow Smith and Jaden Smith Don’t Believe in Time or School: 6 Wacky Musings You Gotta Read
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