It turns out the Zuckerberg-cashes-in “scoop” ain’t true.
Nice to see that Facebook’s Mark Zuckerberg has some serious walking around money after he sold about $40-million worth of stock (or 0.8% of his total stake) during the last financing.
No doubt, some people will see the move as yet another reason to engage in some more Zuckerberg Bashin’ but it’s a smart move to take some money off the table if it’s there for the taking.
Of course, what does a 23-year-old exactly do with $40-million burning a hole in his pocket? For one, Boeing 767s seem to be all the rage these days among young, rich Silicon Valley entrepreneurs.