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

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.

Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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