Mark Zuckerberg, the co-founder and CEO of giant social networking site Facebook is set to sell 41.4 million shares which will rake in $2.3 billion.
This move should not worry you. The CEO is not exiting his firm. Zuckerberg owns 29.8% of Facebook’s Class A shares and just 20% of Facebook INC, so his total stake is some $13.6 billion.
Selling just 41.4 million shares is not a big deal. Facebook has 70 million Class A shares on offer. Mark still owns 444 million Class B common stock shares. An earlier SEC filling is here for your perusal as we get more details into this.
We have obtained the latest SEC filling, reports to follow but seems most of the proceeds will be given to charity.
Details coming in…..