Mark Zuckerberg has pledged to give away 99 per cent of his
shares in Facebook, which at their current market valuation, is worth
around $45 billion.
The giveaway will take place in Zuckerberg's lifetime. He's
starting early - most billionaires, from Bill Gates to Warren Buffett,
wait until their later years to start giving away their fortune.
Even if he were to give away the whole 99 per cent today, he could still sell the remaining 1 per cent for $450 million.
The value of that 1 per cent holding is expected grow. Shares in
Facebook have climbed more than 180 per cent since their market value in
2012 and most analysts have a "buy" on the stock, meaning they expect
further gains.
What about cash? Zuckerberg gets paid a $1 dollar a year basic
salary, like other big tech CEOs. He'll get a few hundred thousand
dollars a year more in company benefits.
He's also made some money cashing in Facebook shares. When Facebook went public in 2012, Zuckerberg sold 30.2 million
shares for a total of $1.13 billion. Then in 2013, Zuckerberg cashed in
some of his share options to the value of $3.3 billion (£1.9 billion).
At the time, Facebook said the cash would go on private jets needed for
security reasons and to pay his tax bills.
Then there's property. Zuckerberg spent $10 million on a house in the
Dolores Heights part of San Francisco. Last year, he was rumoured to
have spent $200 million or more on land in Kauai, the smallest of the
Haiwaiian Islands.
Thursday, December 03, 2015
What Mark Zuckerberg has left after giving away 99% of his Facebook shares
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