Figma IPO's surprise winner is a charity with 13 million shares-and a famous backstory that sparked a bitter feud over a donor's oil fortune

business • 8/2/2025

The Marin Community Foundation netted $440 million as the IPO's largest selling shareholder. The philanthropic organization is itself the product of a previous generation of big business—and a famous legal fight for control of the money.

As Figma went public this week to much fanfare—and an almost instantaneous 250% stock pop—quite a few folks from Silicon Valley made money. But the biggest winner in terms of immediate IPO proceeds is not any of the marquee Silicon Valley venture cap... [5395 chars]