Nick Bilton and Evelyn Rusli, reporting for the NYT on who’s profiting from the Facebook IPO:
Mr. Zuckerberg, 27, has 533.8 million shares, worth $28.4 billion
based on a company valuation of $100 billion, or $53 a share. He
also has undisputed control of the company, a remarkable
achievement since the company has received financing from some of
the world’s top business minds. He owns 28.4 percent of the
company outright and he controls 57 percent of the voting rights. […]
Bill Gates controlled only 49.2 percent of Microsoft as it went
public in 1986. Google’s co-founders, Larry Page and Sergey
Brin, each owned about 15 percent of their company when it went
public in 2004.
I’m not much interested in and don’t use Facebook, so I seldom write about them. But that Zuckerberg was able to hold onto so much stock and an astounding majority of the voting rights is proof that his success is no fluke. The guy must be a badass at the negotiating table.