CZI funds programs in science and education as well as social issues focused on criminal justice reform, housing affordability and immigration reform. According to the filings, Zuckerberg's share sales are part of a 10b plan, a rule established by the Securities and Exchange Commission that allows public company insiders to sell a predetermined amount of stock at set periods of time. Facebook's dual-class share structure allows Zuckerberg to retain voting control over the company's big decisions even as he sells a significant portion of his stake.
Institutional investors hold about About of them included Meta in their top 10 holdings. Zuckerberg is Meta's largest shareholder by far.
As mentioned, he co-founded Meta, then called Facebook, and has been the company's longtime chair and chief executive officer CEO. He currently holds more than million shares of Meta, which constitutes Vanguard is one of the world's largest investment management companies with about low-cost traditional funds and exchange-traded funds ETFs.
Meta is the largest holding in this fund's portfolio, at about The company offers a wide range of mutual funds, iShares ETFs and closed-end funds. Meta is the fourth-largest holding of this fund, at about 2. Facebook Inc. Accessed Oct. Morningstar Inc. Class A. New York Times. Whale Wisdom. Vanguard Group Inc. BlackRock Inc. Company Profiles. Value Stocks. Your Privacy Rights. To change or withdraw your consent choices for Investopedia.
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ET India Inc. ET Engage. ET Secure IT. Cryptocurrency By. Stocks Dons of Dalal Street. Live Blog. Stock Reports Plus. Candlestick Screener. Borrus, from CII, told me that about 10 percent of publicly listed companies have a multi-class share setup, but the proportion is growing among newly public companies, especially in tech.
Last year, 19 percent of companies that went public on US exchanges had at least two classes of stock with differential voting rights. In , it was just 1 percent, Borrus said.
Proponents of such structures, including at Facebook, argue that they help make a company more stable and insulate the board and management from short-term pressure, allowing them to stay focused on long-term success. Facebook has also pointed out that its dual-class structure has been in place since , well before it first went public in , and investors who bought the Class A shares knew that. Borrus told me growing academic research suggests that when companies go public, the multi-class structure might at first give them a boost, but that fades to a discount within six to nine years.
CII recently petitioned the New York Stock Exchange and Nasdaq to sunset multi-class structures within seven years of an initial public offering. Zuckerberg has steered the company through some tough times, and Sandberg, who joined Facebook in , has been seen as a sort of adult in the room and a steady hand.
But he conceded Zuckerberg probably should no longer be board chair. Ultimately, it seems as though some sort of a management change at Facebook will have to come from Zuckerberg himself. Our mission has never been more vital than it is in this moment: to empower through understanding. Financial contributions from our readers are a critical part of supporting our resource-intensive work and help us keep our journalism free for all.
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