financetom
Politics
financetom
/
Politics
/
Mark Zuckerberg will sell as many as 75 million Facebook shares, currently worth $12.8 billion, over the next 18 months
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Mark Zuckerberg will sell as many as 75 million Facebook shares, currently worth $12.8 billion, over the next 18 months
Sep 23, 2017 6:28 AM

Mark Zuckerberg will sell a large number of Facebook shares over the next 18 months in sales that would be worth between $6 billion and $12.8 billion based on the stock's current price.

The intention to sell between 35 million and 75 million shares was disclosed in a Facebook securities filing late Friday.

Proceeds of the sale will go "to fund the philanthropic initiatives of Mr Zuckerberg and his wife, Priscilla Chan," the filing said.

The company also said it would scrap a plan to create a new class of shares that would have allowed Zuckerberg to keep a majority of voting control in the company even if his actual ownership stake was far less.

To know more, click here

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Imran Khan nominates ex-chief justice Gulzar Ahmed as Pak caretaker PM
Imran Khan nominates ex-chief justice Gulzar Ahmed as Pak caretaker PM
Apr 4, 2022
The announcement came after President Arif Alvi sent letters to Khan and leader of the Opposition Shehbaz Sharif on April 4 seeking suggestions for the appointment of a caretaker PM.
Wife of UK's Finance Minister Sunak is non-domiciled for tax purposes
Wife of UK's Finance Minister Sunak is non-domiciled for tax purposes
Apr 7, 2022
Akshata Murthy, wife of UK's Finance Minister Rishi Sunak, is the daughter of Narayana Murthy, the billionaire co-founder of IT services company Infosys, and she owns around 0.93 percent of the company. The tax status means she would not pay taxes in Britain on dividends from the Indian business.
London Eye: Punches beneath a diplomatic purdah
London Eye: Punches beneath a diplomatic purdah
Apr 4, 2022
London Eye: The pointer to conflicting positions between India and Britain was clear from the official statements from both countries ahead of the meeting between their foreign ministers. A note from the United Kingdom government spelt out clearly that Ukraine was top of the agenda as expected.
Russia-Ukraine News Highlights: Breaking ranks with EU, Hungary says ready to pay for Russian gas in roubles
Russia-Ukraine News Highlights: Breaking ranks with EU, Hungary says ready to pay for Russian gas in roubles
Apr 5, 2022
Russia-Ukraine news: External Affairs Minister S Jaishankar on Wednesday condemned the Bucha killings in Ukraine and supported the call for an independent investigation. Replying to India's stand on the Russia-Ukraine conflict in the lower house of the Parliament, he said, "Many MPs brought up the incident of killings in Bucha and I want to say that we are deeply disturbed by the reports. We strongly condemn the killings which have taken place there. It's an extremely serious matter and we support the call for an independent investigation.” Reports have said that more than 300 people have been killed and the total number of casualties was likely to increase as the whole city is being checked. Hundreds of civilian residents were found dead on the streets, beside their homes and in mass graves. Ukraine accused Russia of the Bucha massacre. However, Russia has denied the allegations and said that it was Ukrainian propaganda. Catch all the latest development around the Russia-Ukraine War here: 
Copyright 2023-2025 - www.financetom.com All Rights Reserved