- Fed will reduce bond purchases by $10B in January
- John Podesta eats crow: ‘I apologize to Speaker Boehner’
- U.S., China race to finish line on ‘invisibility cloak’
- Obama ‘cavalier’ in hiding foreign aid order, judge rules
- Prince Charles: Muslims are driving Christians from Mideast through persecution
- Gitmo’s first commander: Close the prison down
- Google’s newest photography find: Just wink and shoot
- Detroit’s Heidelberg art project hit by 8 fires in 8 months
- Pa. police pull people over for random DNA tests for feds
- NASA pushing hard to get back into space game
Facebook surrenders its privacy in IPO documents
At that price, the nearly 534 million shares that the 27-year-old Zuckerberg owns are worth about $16 billion. The filing indicates Zuckerberg will sell an unspecified number of shares in the IPO to cover a tax bill for exercising a stock option to buy 120 million shares. Zuckerberg has been collecting a $500,000 salary but that will fall to one dollar next year at his own request, according to the filing.
Other big winners in the IPO include: Facebook co-founder and old Zuckerberg friend, Dustin Moskovitz, who owns nearly 134 million shares; venture capital firm Accel Partners, which owns 201 million shares; Russian investor DST Global Ltd., which owns 131 million shares; and former PayPal CEO Peter Thiel, who owns nearly 45 million shares.
Hundreds of other Facebook employees could become millionaires because they receive stock as part of their compensation. Facebook has about 3,200 employees now, nearly 2,000 more than it did two years ago.
Facebook also shared some of its biggest worries in the filing. Among other things, it cited Google’s ability to use its dominance in Internet search to promote its Google Plus social network. Facebook also frets the possibility that regulators in Europe and the U.S. may impose tougher privacy rules that would make it more difficult for the company to stockpile information about its users.
By John R. Bolton
The president fiddles at his domestic altar while the world burns
- U.S. Army mulls wiping out memory of Robert E. Lee, 'Stonewall' Jackson
- Gov't wasted $30 billion on 'pillownauts,' crystal goblets -- buying human urine!
- Half of America strips religion from Christmas
- BOLTON: Nero in the White House
- We told you so: Conservatives foresaw polygamy ruling
- EDITORIAL: Al Gore, soothsayer
- HURT: D.C. gets the vapors, calls sequester too much
- Army to cut up to 4,000 captains and majors
- Obama mocks Putin, picks gay athletes for Sochi delegation
- Top Democrats reject court ruling over NSA spying on Americans
Independent voices from the The Washington Times Communities
All of the world’s problems, solved on your back porch
An objective, analysis-based perspective of D.C. sports as seen through the eyes of lifelong D.C. sports enthusiast, John Heibel.
Human interest stories to feed interest, satisfy curiosity and see outside the box.
The cold hard truth about politics in America today and the state of this once great nation.
Top 10 handguns in the U.S.
Extraordinary day at Redskins Park
White House pets gone wild!
Let it snow