Facebook co-founder sells 1.35 million shares
NEW YORK (AP) — Facebook co-founder Dustin Moskovitz has been selling 150,000 shares of Facebook stock a day out of the hundreds of millions that he owns. So far, he has shed 1.35 million shares for proceeds of $26.2 million, at prices ranging from $18.79 to $20.08.
Moskovitz was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. Moskovitz, 28, left Facebook in 2008 and started Asana, whose software helps manage projects.
He has been disclosing the sales every three days. He did not sell any stock in Facebook's IPO. Facebook is headquartered in Menlo Park, Calif.
Here's a look at his daily sales, average prices and ranges and proceeds for the day:
• Aug. 17: 150,000 shares, $20 average ($19.95 to $20.08), $3 million
• Aug. 20: 150,000 shares, $19.49 average ($18.79 to $20.03), $2.92 million
• Aug. 21: 150,000 shares, $19.38 average ($19.09 to $19.95), $2.91 million
• Aug. 22: 150,000 shares, $19.31 average ($19 to $19.52), $2.9 million
• Aug. 23: 150,000 shares, $19.51 average ($19.37 to $19.73), $2.93 million
• Aug. 24: 150,000 shares, $19.43 average ($19.26 to $19.66), $2.92 million
• Aug. 27: 150,000 shares, $19.22 average ($19.10 to $19.49), $2.88 million
• Aug. 28: 150,000 shares, $19.26 average ($19 to $19.37), $2.89 million
• Aug. 29: 150,000 shares, $19.19 average ($19.08 to $19.37), $2.88 million
Moskovitz was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. Moskovitz, 28, left Facebook in 2008 and started Asana, whose software helps manage projects.
He has been disclosing the sales every three days. He did not sell any stock in Facebook's IPO. Facebook is headquartered in Menlo Park, Calif.
Here's a look at his daily sales, average prices and ranges and proceeds for the day:
• Aug. 17: 150,000 shares, $20 average ($19.95 to $20.08), $3 million
• Aug. 20: 150,000 shares, $19.49 average ($18.79 to $20.03), $2.92 million
• Aug. 21: 150,000 shares, $19.38 average ($19.09 to $19.95), $2.91 million
• Aug. 22: 150,000 shares, $19.31 average ($19 to $19.52), $2.9 million
• Aug. 23: 150,000 shares, $19.51 average ($19.37 to $19.73), $2.93 million
• Aug. 24: 150,000 shares, $19.43 average ($19.26 to $19.66), $2.92 million
• Aug. 27: 150,000 shares, $19.22 average ($19.10 to $19.49), $2.88 million
• Aug. 28: 150,000 shares, $19.26 average ($19 to $19.37), $2.89 million
• Aug. 29: 150,000 shares, $19.19 average ($19.08 to $19.37), $2.88 million
Jump ship and make millions while you can, I just love capitalism
 @Larry*X*K The beautiful part about it is that no one put a gun to either the sellers or buyers. And while you might poo-poo their millions, guess what? Uncle Sammy is taking his "fair share" as "ordinary income" (correct me if I am wrong), which means  about $1,000,000 tax revenue everytime he sells $3,000,000 of stock.
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Maybe capitalism ain't so bad when it comes to redistributing the wealth...
 @Sid Vishess  @Larry*X*K should it not be only 15% cap gains? 450k. and the tax law should change so many wealthy individuals would pay their fair share taxed at their respective income. In this case it would be 33% not 15%
@Dan Taylor @Sid Vishess @Larry*X*K It could be argued the rich should have a lesser percentage. Paying 15% of $30 million helps us a lot more than someone earning $100,000 and paying 33%.
 @Dan Taylor  @Larry*X*K You know what? Anybody paying an income tax bill of $450,000 per day selling his stocks is what I call paying his "fair share."
@Sid Vishess @Larry*X*K The classification of income is based on the date he exercised his options. If he exercised his options and held them for more than a year before selling, then it's capital gains. Otherwise it would be ordinary income.  Depending on what the value was when he exercised, he could have been subject to AMT as well. Either way, he's paying something.