Zuckerberg May Sell Up to $12.8 Billion in Facebook Stock to Fund Work in Education, Science, and Advocacy
Mark Zuckerberg said Friday he and his wife, Priscilla Chan, plan to sell 35 million to 75 million shares of Facebook stock in the next 18 months to pay for their work in education, science, and advocacy.
Facebook stock traded at $170.54 a share at the close of business Friday. At that price, the value of the stock sale would be between $6 billion and $12.8 billion.
The comments came in a Facebook post in which Mr. Zuckerberg said he was canceling plans for the three-for-one stock split he announced last year that would have reclassified some stock as nonvoting shares. That move would have allowed him to cash out some of the couple’s holdings without weakening Mr. Zuckerberg’s control. The proposal faced legal challenges. . .