Facebook’s Mark Zuckerberg just got $4.8 billion richer?
Forget the lottery. What Facebook Chief Executive Mark Zuckerberg made Friday makes $640 million look like child’s play.
The Federal Trade Commission announced that a “transaction” was cleared by the U.S. government Friday involving Zuckerberg and the company he founded while at Harvard. That transaction is presumed to be Zuckerberg exercising his stock options and purchasing 120 million Facebook shares.
The stock option was given to Zuckerberg in 2005 at 6 cents a share, according to the New York Times. Today, SharesPost is holding the final stock auction for Facebook shares on the secondary market, and it lists the company’s stock value at $41 on the front page of its site.
At that rate, this transaction could mean Zuckerberg’s shares, which were worth $7.2 million, could now be worth $4.8 billion.
Facebook detailed this purchase in February when it made its S-1 filing in preparation of its IPO. What happened Friday simply makes the transaction official.
But we can’t all be Mark Zuckerberg, so good luck with your Mega Millions ticket.
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