4 ms·
Some info here: https://www.latimes.com/business/hiltzik/la-fi-hiltzik-mark-zuckerberg-facebook-20190416-story.html https://www.latimes.com/business/hiltzik/la-
by nomid 5y ago
Some info here: https://www.latimes.com/business/hiltzik/la-fi-hiltzik-mark-zuckerberg-facebook-20190416-story.html https://www.latimes.com/business/hiltzik/la-fi-hiltzik-mark-... but the gist of how he controls it is pretty simple:
"Zuckerberg owns or controls 88.1% of Facebook’s Class B shares, which each have 10 votes at the annual meeting — 3.98 billion votes overall. There are only 2.4 billion Class A shares, which are the only shares ordinary investors can buy. So any proposal Zuckerberg doesn’t like will fail by nearly a 2-1 margin, assuming all Class A investors vote together, which never happens. (Zuckerberg owns 0.5% of the Class A shares.)"
Clearly all throughout the funding rounds he made sure he controlled the shares that mattered.