Zuckerberg Sells $40 Million of Stock
Posted by Nick O'Neill on December 8th, 2007 1:20 PMOwen Thomas is reporting that Mark Zuckerberg sold $40 million worth of stock when the company accepted an investment from Microsoft. That’s not a bad position to be in just in case the company goes belly-up! One has to wonder if Facebook will lose any motivation with $40 million in the bank. Perhaps in addition to cashing out a little, Zuckerberg will hire a CEO who can manage the company on a daily basis. Steve Jobs left Apple before later deciding to return so it’s not that unlikely of a situation.
Zuckerberg still has a lot invested in the company. As Alley Insider is reporting, that number may be around 20 to 30 percent of the company. Whatever Mark Zuckerberg decides to do, he is definitely sitting pretty as he has money in the back and a website that is growing at an exponential rate. With all the controversy surrounding Beacon and criticism of Facebook’s youthful management decisions, perhaps Zuckerberg will decide to take a break.
Then again, Larry and Sergey didn’t take a break when building Google. Most people are calling this a smart move and I have to agree. As Jim Cramer says, pigs get fatter while hogs get slaughtered. Do you think this was a smart decision by Zuckerberg?
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December 8th, 2007 at 10:25 pm
> Do you think this was a smart decision by Zuckerberg?
Common practice, normal track of decision and behavior. Reasonable - He created the thing, and getting a little reward back for himself while on good valuation is quite acceptable (and in fact prudent).
Meaning also, that it’s not prudent for him not to do that.
December 8th, 2007 at 11:25 pm
> Do you think this was a smart decision by Zuckerberg?
Common practice, normal track of decision and behavior. Reasonable - He created the thing, and getting a little reward back for himself while on good valuation is quite acceptable (and in fact prudent).
Meaning also, that it’s not prudent for him not to do that.
December 14th, 2007 at 11:07 am
> Steve Jobs left Apple before later deciding to return so it’s not that unlikely of a situation.
Puhleeze. Steve Jobs was FIRED in the mid 1980s from Apple. He left and went to start NeXT, Inc. Twelve years later, Apple had bought NeXT, and Jobs became “interim CEO”. It was a completely different situation and not comparable to Zuckerberg and Facebook. Check your history books.
December 14th, 2007 at 12:07 pm
> Steve Jobs left Apple before later deciding to return so it’s not that unlikely of a situation.
Puhleeze. Steve Jobs was FIRED in the mid 1980s from Apple. He left and went to start NeXT, Inc. Twelve years later, Apple had bought NeXT, and Jobs became “interim CEO”. It was a completely different situation and not comparable to Zuckerberg and Facebook. Check your history books.