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Even if he had 50% at the beginning, wouldn't he be in the exact same situation as Saverin? Diluted to hell by subsequent rounds of investment, and ending up w
by colinplamondon 16y ago
Even if he had 50% at the beginning, wouldn't he be in the exact same situation as Saverin?
Diluted to hell by subsequent rounds of investment, and ending up with .1-1%. That'd still be an ENORMOUS amount of money, but there's no way he has a claim on 50% of the currently issued shares.
- mdda 16y agoBut the argument could be that he was promised half of Zuckerberg's shares, and these shares have benefited from any anti-dilution protection that Zuckerberg got along the way (since this bundle of shares was protected, rather than the actual owner).
- thinkcomp 16y agoNo. The argument is that all of the material produced as a result of the agreement is property of the General Partnership, of which Ceglia owns 50%. Therefore, the entirety of Facebook, Inc. would be part of this partnership. Eduardo Saverin only got a stake in Facebook, Inc., not the partnership, which it's unclear if he even knew existed.
- duvander 16y agoThis is probably why he is claiming 50% of Zuckerberg's shares. Those have been diluted, but he has obviously maintained a huge portion of the company.