3 ms·
Doesn't his share class factor pretty heavily into that statement though?
by shostack 11y ago
Doesn't his share class factor pretty heavily into that statement though?
- gozur88 11y agoHmmmm. This is a pretty interesting (and unusual) story, now that I look into it. Part of the arrangement when FB went public is some of the larger investors ceded him irrevocable proxy rights for their shares, giving him over 50% of the votes even though he owns only 28.2% of voting shares. It's not so much a difference in share classes as a sort of side deal. http://venturebeat.com/2012/02/01/zuck-power-play/ http://venturebeat.com/2012/02/01/zuck-power-play/ But the point remains, even if it's kind of technical when he can always outvote everyone else. He can't treat the company as his personal fiefdom if it crosses the legal interests of other shareholders. If he goes too far they can probably sue successfully.