According to the New York Times, Zuckerberg owns 28.4 per cent of all Class B Facebook shares. But through a string of agreements, he actually has voting rights over at least 57.1 per cent of Class B shares. That’s only likely to increase when Class B shareholders decide to sell their stakes.
How does he manage that? The New York Times reports that he offers shareholders about $US100, in cash, per share in exchange for voting rights. This finding come out of updated IPO documents that were released yesterday. [New York Times]
jeremy
Friday, February 10, 2012 at 4:57 PMno not per share, per shareholder, so says the contract. And the wording effectively means “at least $100″ – could be more (probably was) and does NOT have to be cash (just has to be a “valuable consideration”) – could be extra stock (probably was for the VCs). You can’t sell these shares without approval and the same agreement. It binds you estate, and grants power over those shares in you estate. F&^&N Awesome stuff.