Facebook CEO Mark Zuckerberg has considered plans to go into government, according to court documents seen by Bloomberg.
The documents were filed as part of a shareholder lawsuit accusing Facebook’s board of failing to represent the best interests of those holding Facebook’s common stock.
The lawsuit focuses on a change to Facebook’s stock structure earlier this year. Zuckerberg holds a majority share of voting Facebook stock, giving him control of the company. But he wanted to be able to sell this off to fund his new philanthropy efforts — the Chan Zuckerberg Initiative — without losing this control. (The Financial Times reports that the plaintiffs are accusing Zuckerberg of a “self-interested agglomeration of power.”) – READ MORE
