Figma's IPO Success Sparks Historic Feud and Celebratory Wins

The largest immediate winner of Figma's IPO was the Marin Community Foundation, which sold over 13 million shares for more than $440 million, stemming from a donation by cofounder Evan Wallace, whose philanthropic move is intertwined with a historic and contentious background involving oil wealth and legal battles. The foundation's history traces back to oil money from Belridge Oil, and Wallace's donation may involve a donor-advised fund, highlighting a unique intersection of tech wealth, philanthropy, and historical wealth legacies.