Facebook CEO Mark Zuckerberg has considered plans to go into government
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