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This is really common. One reason you IPO is to monetize your investment in the company. Bill Gates and Paul Allen have been selling off chunks of shares for decades and it's not like they don't believe in Microsoft.
This could be a good thing. Liquidating wealth means opportunity for charity or other investments.
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His Class B shares should take care of maintaining control.
The FB shares aren't voting shares or are extremely diluted voting shares? This is the same scam Google and UPS pulled. Beware of owning second class stock shares. It means that someday the insiders can wave a magic wand and screw you over. Do you trust them? Maybe. But it doesn't mean they can't do what they want and "share holders" can't do a thing about it.
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His Class B shares should take care of maintaining control.
The FB shares aren't voting shares or are extremely diluted voting shares? This is the same scam Google and UPS pulled. Beware of owning second class stock shares. It means that someday the insiders can wave a magic wand and screw you over. Do you trust them? Maybe. But it doesn't mean they can't do what they want and "share holders" can't do a thing about it.
I'm always divided on this as a shareholder, but more often than not I do trust the founders more than the open market, yes. They have an emotional stake in the company that goes beyond short-term economic interests, and I've seen enough companies flounder after the market jettisons the people who built it, and enough recoveries when the founders return, to question the wisdom of shareholder power.
Earlier quoted context omitted.
His Class B shares should take care of maintaining control.
The FB shares aren't voting shares or are extremely diluted voting shares? This is the same scam Google and UPS pulled. Beware of owning second class stock shares. It means that someday the insiders can wave a magic wand and screw you over. Do you trust them? Maybe. But it doesn't mean they can't do what they want and "share holders" can't do a thing about it.
Ummm does anyone else think that maybe Mark Zuckerberg is now going to be filling the Steve Jobs shaped hole in the worlds tech publications?
Hahahaha. That's a funny thought.
But now that you mention it, yes. Though maybe with a slightly less endeared/worshipping sentiment.
You 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
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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 cur…
With that much money I would just retire and travel or pull a Bill Gates.
I'd sell all of it and move on. Most boring business ever. And it's not like it's going to be worth more, ever, anyway.