Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
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Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#2He needs walking around money. So what?
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#3It was in the S-1 filing, so it's not new news:
http://www.marketwatch.com/story/facebooks-zuckerberg-thiel-...
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#4You know what's cool? 1.134916 billion dollars.
Hey, who else has finances that look like this?
Mark Zuckerberg, Trustee of The Mark Zuckerberg 2008 Annuity Trust dated March 13, 2008Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#5Probably to pay his tax bill, right?
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#6He needs walking around money. So what?
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Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#7Every three cents more per share would have been another million dollars.
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#8He needs walking around money. So what?
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He still has much, much more tied up in facebook. The fact that he's diversifying his holdings shouldn't be held against him; any reasonable person would do the same to hedge against a possible decline of the entire technology sector in the event social media company valuations face some sort of "correction". Also, anyone with that much money in equities has to worry about broader macroeconomic issues such as the current problems in Greece and the rest of the Eurozone. Once again, Zuckerberg isn't doing anything that should be held against him. He still has most of his eggs in the facebook basket; he's merely being prudent.
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#9He needs walking around money. So what?
Well, a billion is a lot of walking around money. If he just cashed out for no particular reason, it would point to a lack of faith in the growth prospects for Facebook. After all if you owned a billion dollars of a stock that you thought was a rocketship, wouldn't you leave it in and turn it into five or ten billion?
Of could it could be he wanted to spread his risk around, or pay his taxes.
Re: Mark Zuckerberg sells 30.2 million shares of $FB common stock at $37.58
#10You know what's cool? 1.134916 billion dollars. Hey, who else has finances that look like this? Mark Zuckerberg, Trustee of The Mark Zuckerberg 2008 Annuity Trust dated March 13, 2008
This is pretty common when someone has a lot of cash that is liable to capitol gains. If you sell the assets to the pat you can pay the taxes over time on the money that is distributed instead of paying the capitol gains all at once and loosing that earning power. You do loose the money in that it you cant use it but you make more money in the long run because you spread the taxes out and make money on the potential tax liability up until it is distributed.
edit: It is the same as not paying any taxes all year on your payroll and putting the money in the market to make the interest you can, and then paying the tax man in April.
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edit adding typos back in