Zucker­berg sells stock for phi­lan­thropy

Honolulu Star-Advertiser - - MONEY -

Face­book Inc. Chief Ex­ec­u­tive Of­fi­cer Mark Zucker­berg has made his first big share sale to fund his fam­ily’s phi­lan­thropic ini­tia­tive.

The sale of more than 760,000 shares of Face­book stock, val­ued at about $95 mil­lion, was made by Chan Zucker­berg Ini­tia­tive Hold­ings and the Chan Zucker­berg Foundation, ac­cord­ing to a reg­u­la­tory fil­ing Fri­day. The price of the shares ranged from $122.85 to $124.31.

It will be the first of many sales in Zucker­berg’s plan to fund so­lu­tions for prob­lems in health, science and ed­u­ca­tion. Af­ter the birth of his daugh­ter, Max­ima, Zucker­berg and his wife, Priscilla Chan, said they would give away 99 per­cent of their wealth dur­ing their life­time.

At the time, the De­cem­ber pledge was worth about $45 bil­lion. Since then Face­book stock has gained more than 15 per­cent.

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