How does a Real Estate firm "Go Public" and how does the CEO get his/her share?

[Tiara Murray]

I read about many businesses doing an IPO to gain more capital. I know how this process works, but what I dont understand is how the CEOs get rich of of it? I understand that they keep a certain amount of shares for themselves, but what I dont understand is how they start spending so lavishly if all of their money from this IPO is tied up in the stocks? Do they sell a few hundred thousand of their shares and get the cash from that, or do they just keep them.