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Mark Zuckerberg is selling $2.3 billion worth of Facebook stock

Facebook founder is selling $2.3 billion worth of Facebook stock, to pay taxes.

@anthony256
Anthony Garreffa
Published Fri, Dec 20 2013 6:38 AM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Mark Zuckerberg is selling $2.3 billion worth of shares in the social network he founded, and is the CEO of. He isn't just selling the shares for cash, he's selling them to pay massive tax bills on options that he is exercising.

Mark Zuckerberg is selling $2.3 billion worth of Facebook stock | TweakTown.com

The sale is part of a 70 million share offering, with Zuckerberg selling 41.3 million of those shares. Marc Andreessen, a Facebook investor, is selling 1.6 million. According to a press release from the social network, Facebook "intends to use the net proceeds of the offering for working capital and other general corporate purposes."

NEWS SOURCE:mashable.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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