Tags: Mark Zuckerberg | Facebook | Shares

Zuckerberg Sells $95M in Facebook Shares for Philanthropy

Image: Zuckerberg Sells $95M in Facebook Shares for Philanthropy

(AP Images)

Friday, 19 Aug 2016 08:26 PM

Facebook Inc. Chief Executive Officer Mark Zuckerberg has made his first big share sale to fund his family's philanthropic initiative.

The sale of more than 760,000 shares of Facebook stock, valued at about $95 million, was made by Chan Zuckerberg Initiative Holdings and the Chan Zuckerberg Foundation, according to a regulatory filing Friday. The price of the shares ranged from $122.85 to $124.31.

It will be the first of many sales in Zuckerberg's plan to fund solutions for problems in health, science and education. After the birth of his daughter Maxima, Zuckerberg and his wife Priscilla Chan pledged to give away 99 percent of their wealth during their lifetime.

At the time, the December pledge was worth about $45 billion. Since then, Facebook stock has gained more than 15 percent.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Newsfront
Facebook Inc. Chief Executive Officer Mark Zuckerberg has made his first big share sale to fund his family's philanthropic initiative.
Mark Zuckerberg, Facebook, Shares
130
2016-26-19
Friday, 19 Aug 2016 08:26 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved