Facebook Offering 70 Million Class A Shares Worth $3.9 Billion to the Market

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Sam Wakoba
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FACEBOOKMark 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.

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We have obtained the latest SEC filling, reports to follow but seems most of the proceeds will be given to charity.

Details coming in…..

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Sam Wakoba
Sam Wakoba
http://techmoran.com
Based in Nairobi, Kenya, Sam is a pan-African technology journalist, author, entrepreneur, technology business mentor, judge, educationalist, and a sought-after speaker and panelist across Africa’s innovation ecosystem. He is the convenor of the popular monthly #TechNight evening event and the #StartupEast Awards and Conference, platforms that bring together startup founders, developers, entrepreneurs, investors, content creators, and tech professionals from across the continent. For more than 16 years, Sam has reported on and analysed Africa’s technology landscape, covering some of the continent’s most impactful, and at times controversial policies, programs, investors, co-founders, startups, and corporations. His work is known for its independence, depth, and fairness, with a singular goal of helping build and strengthen Africa’s nascent technology ecosystem. Beyond journalism, Sam is a business analyst and consultant, working with brands, universities, corporates, SMEs, and startups across East Africa, as well as international companies entering the East African market or scaling across Africa. In his free time, he volunteers as a consulting editor and fintech analyst at Business Tech Kenya, a business, technology, and data firm that publishes reports, reviews, and insights on business and technology trends in Kenya. Follow him on X: @SamWakoba
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