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  • Date of publication: 31 August 2020
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  • businessbuysale.com
  • Mark Zuckerberg sold Facebook shares for $ 500 million. The money will go to charity

    Synopsis

    Co-founder and CEO of Facebook Mark Zuckerberg in February 2018 sold 2.7 million shares of its shares in the company for a total of $ 500 million. The businessman will send the money to his charitable foundation Chan Zuckerberg Initiative, Reuters reports

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Description

Co-founder and CEO of Facebook Mark Zuckerberg in February 2018 sold 2.7 million shares of its shares in the company for a total of $ 500 million. The businessman will send the money to his charitable foundation Chan Zuckerberg Initiative, Reuters reports .

 

The report, which Zuckerberg sent to the US Securities and Exchange Commission (SEC), says that money is needed to finance the projects he created with his wife Priscilla Chan of the charity foundation Chan Zuckerberg Initiative. The entrepreneur did not disclose any other details , Zuckerberg's representatives did not respond to the agency's request.

As noted by Reuters, in 2015, the head of Facebook said that in the next few years he would donate to his charitable foundation up to 99% of the company's shares owned by him. For 2016 and 2017, Zuckerberg sold the company's shares for about $ 1.6 billion.

In June 2017, it became known that the Chan Zuckerberg Initiative would donate $ 5 million to help in buying housing for teachers from the Silicon Valley.

Earlier magazine Forbes has made a rating of the most generous American businessmen which last year have given more than others for charity. 50 businessmen donated $ 14.7 billion in aggregate, and the rating was led by Microsoft founder Bill Gates and Facebook creator Mark Zuckerberg with their spouses.

 

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