Mark Zuckerberg Now Owns Almost 30% of Facebook
These days, it seems like the news is dominated by how many investors are selling Facebook stock. Still, at least one very important person has a large stake in the company.
According to a recent SEC filing, Facebook CEO Mark Zuckerberg now owns more than 632 millions shares of the social network's stock, giving him a 29.3 percent stake in the company. When Facebook filed with the SEC its initial paperwork of plans to go public in February 2012, Zuckerberg owned 28.2 percent of company shares.
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At its initial public offering last May, Facebook's stock traded for about $38.Yet over the course of several months, the stock nosedived, eventually falling to less than half its IPO price before it clawed back above $28.
The swoon prompted many investors—including Peter Thiel, Dustin Moskovitz and investor and board member Jim Breyer—to sell off large stakes in the company during the last few months, stirring some controversy about the company's long-term prospects.
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Zuckerberg himself sold $1.1 billion worth of stock at the time of the IPO to pay a hefty tax bill. He then pledged not to sell any additional stock for at least a year after the offering.
Facebook's stock traded at about $28.37 midday Thursday.
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