"We hear Mark Zuckerberg, the founder of Facebook, has cashed out -- before an IPO, before a sale, and before his investors. In the company's recent financing round, insiders believe, he sold about $40 million worth of stock. A tiny portion of his $5 billion stake, but in cash rather than on paper, and "enough that he never has to think about money for the rest of his life," says a person made privy to details of the sale. On the Sand Hill Road of old, this is simply not how things are done."
Saturday, December 8, 2007