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Mark Zuckerberg Now Owns Almost a Third of Facebook

Mark ZuckerbergWhile many on Wall Street remain skeptical about Facebook, CEO and co-founder Mark Zuckerberg continues to up his stake in the company. Zuckerberg now owns more than 632 million shares of Facebook stock, giving him a 29.3% stake in the social network, according to an SEC filing released on Wednesday. That’s up from the 504 million shares he owned on the day of Facebook’s IPO — after he sold off some 30 million shares to cover taxes — giving him a 28.2% stake in the company. In the first few months after the IPO in May, Facebook’s stock price dropped by more than half from $38 a share to as low as $17.55 in early September. Right around that time, Zuckerberg gave the stock a boost by pledging not to sell any shares for at least a year — in a powerful showing of confidence to investors — but it looks like Zuck has gone even further than that by doubling down on his Facebook holdings.

Read the full story at Mashable.

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More Stories By Shelly Palmer

Shelly Palmer is the host of NBC Universal’s Live Digital with Shelly Palmer, a weekly half-hour television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.