Wall Street stock market weekly
CNBC News Summary:
Mark Zuckerberg Co-founder Facebook will sell a large number of shares over the next 18 months in sales that would be worth between $6 billion and $12.8 billion based on the stock’s current price.
The intention to sell between 35 million and 75 million shares was disclosed in a securities filing to the exchange late Friday.
Proceeds of the sale will go “to fund the philanthropic initiatives of Mr. Zuckerberg and his wife, Priscilla Chan,” the filing said.