Zuckerberg Sells $1.1 Billion Of Facebook Stock To Pay Taxes

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Photo: Getty Images / Justin Sullivan

Mark Zuckerberg has completed a transaction selling 30.2 million shares of Facebook at $37.58 a share, netting him a cool $1.13 billion, according to a document filed with the SEC.Unfortunately, he sold that stock to pay taxes, CNet reports.

Why didn’t he sell at $38, the IPO price? The underwriters had to take their cut.

Still, he made out alright on this planned transaction. The stock is only trading for about $32 a share right now.

That’s actually not a bad deal on the taxes either, if that’s his whole bill. A few months ago, Bloomberg speculated he could owe as much as $1.67 billion on the 120 million shares that he holds the option to buy at 6 cents a piece.

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