Mark Zuckerberg selling $2.3 billion worth of Facebook stock to pay tax bills

Posted by: Jennifer Cefai (2 years, 10 months ago)

Facebook CEO Mark Zuckerberg has sold $2.3 billion worth of his company's stock, in order to pay tax bills on options he is exercising. The sale is part of a 70 million share offering, which Zuckerberg is selling 41.35 of. Facebook investor Marc Andreeseen is selling 1.6 million share, which makes his sale worth $86.5 million given Facebook's most recent stock value (trading at $54).

According to a Facebook press release, the company "intends to use the net proceeds of the offering for working capital and other general corporate purposes." 

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