REPORT: Mark Zuckerberg Faces $1B-Plus Tax Bill
Not too many people can handle a tax bill of more than $1 billion, but Facebook Co-Founder and CEO Mark Zuckerberg is a member of that exclusive club, and CNN Money reported that his total tab will likely end up at around $1.1 billion.
Not too many people can handle a tax bill of more than $1 billion, but Facebook Co-Founder and CEO Mark Zuckerberg is a member of that exclusive club, and CNN Money reported that his total tab will likely end up at around $1.1 billion.
According to CNN Money, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a “strike price” of $0.06 cents apiece last May 18, the day of the social network’s initial public offering, and the Internal Revenue Service treats those shares as ordinary income at the time they are exercised, regardless of whether or not they are sold.
CNN
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