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Zuckerberg earns $1bln from sale of Facebook shares post IPO | Facebook founder Mark Zuckerberg
has pocketed 1.1 billion dollars after floating his company on the US stock market.
Zuckerberg on Tuesday completed the transaction of the 30.2 million shares he
sold in Facebook's IPO on Friday. The shares he disposed of sold for 37.58 dollars
a piece, The Los Angeles Times reports. According to a document filed with the
Securities and Exchange Commission, despite all that money, the Facebook CEO will
be spending most of it to cover taxes. For the third day in a row, Facebook's
shares closed at a lower price than at which they opened. After the stock began
trading at 42.05 dollars on Friday, they closed at 31 dollars on Tuesday, the
report said. Facebook's high came on Friday, when shares jumped to 45 dollars
for a split second, but they hit a new low Tuesday, sinking to 30.94 dollars at
one point.
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