Mark Zuckerberg is selling 30.2 million shares as part of Facebook Inc.'s initial public offering of stock. With shares priced at $38 each, he's receiving $1.15 billion.
Even after the IPO, Zuckerberg remains Facebook's single largest shareholder. He will own 503.6 million Class B shares after the offering, or 32 percent of Facebook's total shares. At the $38 share price, his stake in the company is worth $19.1 billion. Zuckerberg will control the company with 56 percent of its voting stock as a result of agreements he has with other shareholders who promise to vote his way.
Here are some biographic details on him:
NAME: Mark Zuckerberg
OCCUPATION: CEO of Facebook Inc.
AGE: 28 (Born May 14, 1984)
RESIDENCE: Palo Alto, Calif. Grew up in Dobbs Ferry, N.Y.
EDUCATION: Philips Exeter Academy, class of 2002. Studied computer science at Harvard University before dropping out.
PROFESSIONAL CAREER: Co-founded Facebook in his Harvard dorm room in 2004. Has served as CEO since.
FAMILY: Mother, Karen; father, Edward; sisters Arielle, Donna and Randi Zuckerberg.