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Zuckerberg's six-cent deal, fresh from Harvard, brings him in $2.8 billion


By Noel Young, Correspondent

April 26, 2013 | 2 min read

It was 2005. Mark Zuckerberg had started what eventually became Facebook while attending Harvard, and a year later took up 60 million share options at 6 cents each.

Zuckerberg's six-cent bargain

Last year the 28-year-old Facebook CEO, exercised his options - for a gain of nearly $2.3 billion, the company said in a late Friday proxy filing with the US Securities & Exchange Commission.

Facebook 's Initial Public Offering last May was at $38 a share. It went to $45 but fell to $17.55 within weeks. Friday's close: $26.85.

Zuckerberg also received $503,000 in salary last year, a $266,000 bonus, plus perks valued at $1.2 million, mostly for personal use of company aircraft.

Zuckerberg's scooped up another 60 million shares when he took the social network public last year . According to CNN, the tax bill for that will be more than $1 billion. Zuckerberg should have "no trouble clearing his tax bill," says USA Today. According to Forbes' billionaires list, he's worth $13.3 billion.


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