first_imgWith a company potentially worth 50 billion dollars, news that one of the Facebook co-founders is looking to sell 10 million of their shares has left investors at Wall Street a little baffled.It is a little strange that a co-founder would want to give up such a large portion of his stake in what is one of the most successful companies in the world, but at this stage we do not know which co-founder is interested in selling. However, the choices are pretty simple really as it can only be whittled down to four individuals: CEO Mark Zuckerberg, co-founders Chris Hughes, Dustin Moskovitz or Eduardo Saverin.AdChoices广告A sale of 10 million shares would only represent about a half of 1 percent in the company anyway, but it would still bring to the table a small fortune to whoever sold them. Currently each share is worth $30, so by doing some basic math’s the result would amount to a cool $300 million.At the moment Facebook co-founder shares have no restrictions on transfer, but the company last year implemented a new rule that can affect sales of future shares, thus limiting their transferability. So this could be why one of the co-founders is selling out his shares now, or maybe he sees something coming we do not know about, but either way it should not be long before the person is named and an explanation will follow we are sure.Read more at the NewYork Postlast_img

Facebook cofounder selling 10M shares worth 300 million

Leave a Reply

Your email address will not be published. Required fields are marked *