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In April 2012, Facebook announced its intention to buy Instagram for $1 billion in cash and stock. At just 26 years old, Krieger became a billionaire overnight. The acquisition was a seismic event in the tech world, validating the immense potential of mobile-first platforms and photo-sharing. For Krieger, the transaction provided the financial foundation for his current net worth. While he did not remain with Facebook to manage Instagrams integration, the initial payout was substantial. He subsequently received additional payouts as the platform continued to grow exponentially under Metas ownership, solidifying the financial returns from his early vision.
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