[alecco]

And even that might be deceiving.

First, with the dilution trick (like Facebook did against a founder). Second, the voting vs. non-voting stock.

Also, if you happen to leave the company you likely have to buy the options. If you don't have the cash, you're screwed. If you have the cash, you might end up in unsellable-stock limbo for years. In their case, about a decade and still counting.