Facebook Inc (FB): Mark Zuckerberg now owns less than 20% of the social network
Facebook Inc (NASDAQ:FB) CEO and co-founder Mark Zuckerberg now has a stake of under 20% in the company, according to SEC filings. Zuckerberg now owns 478.9 million shares of Facebook (19.6%). About a year ago, Zuckerberg owned around 30% of Facebook.
Zuckerberg sold around $2.3 billion worth of Facebook in December to pay tax bills for options that he exercised. Zuckerberg said in September 2012 that he was not going to sell any shares of Facebook for at least a year to show that he has confident in the stock. This was around the time that Facebook was trading at the $18-$23 range and now it is in the $60-$65 range.
Several months later, Zuckerberg increased his stake in Facebook to 29.3% from 28.2%. Facebook’s stock doubled in 2013 because investors gained confident in the social network’s ability to build revenues on mobile devices. Zuckerberg’s net worth increased $12.4 billion for the year, which is more than any other technology executive excluding Bill Gates.