USA Today: Facebook CEO Mark Zuckerberg is selling $2.3 billion of holdings to help pay taxes.
USA Today: Facebook CEO Mark Zuckerberg is selling $2.3 billion of holdings to help pay taxes.
The social-networking giant said it plans to use the proceeds of the sale for working capital and general corporate purposes. Facebook said it may use a portion of the proceeds for “acquisitions of complementary businesses, technologies, or other assets,” according to the regulatory filing.
The stock sale at Facebook arrives just a day before the company joins the S&P 500 Index. Zuckerberg will use the sale to pay off taxes related to exercising an option to purchase 60 million shares.
