Huge Facebook shares sale: Who? Why?

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Facebook founder and CEO Mark Zuckerberg sold large-scale shares. Over 500 million dollars (Rs 31,443 crore) of shares were sold on Facebook. Zuckerberg took the decision to donate funds to the Foundation Chan Zuckerberg Initiative (CJI), which was set up by his wife, Prinsilla Chan in December 2015.

 

According to Reuters, Zuckerberg sold 685,000 shares worth 125.4 million dollars in the last three days of February. He said that he sold 2.7 million shares worth 482.2 million dollars in February through Thursday’s filing of securities. However, these funds will be funded by many charitable and charitable organizations run by the Foundation in the years to come, “a SEP spokesperson said. Zuckerberg announced in September last year that it would sell about 35 to 75 million Facebook shares in the next 18 months. Marc also announced that it will sell 99% ($ 44 billion) for Facebook shares. The Zuckerberg Foundation is also equivalent to Microsoft Corporation founder Bill Gates, his wife Melinda Gates and the Buffet Foundation founded by billionaire Warren Buffet.

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