Zuckerberg wants to sell 35-75 million Facebook shares; here's why

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Facebook CEO Mark Zuckerberg wants to sell 35-75 million Facebook shares in the next 18 months. Well, the social network giant is not in any trouble, Zuckerberg just wants to fund the company's work in education, science, and advocacy.

Zuckerberg wants to sell 35-75 million Facebook shares; here's why

"Over the past year and a half, Facebook's business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more," said Zuckerberg wrote in a post. He said both he and his wife feel a sense of responsibility to contribute something to the society.

"I want to be clear: this doesn't change Priscilla and my plans to give away 99 percent of our Facebook shares during our lives. I anticipate selling 35-75 million Facebook shares in the next 18 months to fund our work," he added further. 

Zuckerberg's main focus is to cure all diseases in their children's lifetime and personalizing education for every student. Furthermore, he asked the company's board to withdraw the proposal to reclassify the stock that he proposed to create in the previous year.

This is not the first time the Facebook CEO is doing something like this. Back in 2016, after becoming parents for the first time, both Zuckerberg and his wife pledged to donate $3 billion dollars to help the world get rid of diseases.

The year before that, in 2015, they pledged to give away 99 percent of the profit made by Facebook for charitable causes. Well, we want their good streak to continue in future as well.



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