While many on Wall Street remain skeptical about Facebook, CEO and co-founder Mark Zuckerberg continues to up his stake in the company. Zuckerberg now owns more than 632 million shares of Facebook stock, giving him a 29.3% stake in the social network, according to an SEC filing released on Wednesday. That’s up from the 504 million shares he owned on the day of Facebook’s IPO — after he sold off some 30 million shares to cover taxes — giving him a 28.2% stake in the company. In the first few months after the IPO in May, Facebook’s stock price dropped by more than half from $38 a share to as low as $17.55 in early September. Right around that time, Zuckerberg gave the stock a boost by pledging not to sell any shares for at least a year — in a powerful showing of confidence to investors — but it looks like Zuck has gone even further than that by doubling down on his Facebook holdings.
Mark Zuckerberg Now Owns Almost a Third of Facebook
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).