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Zuckerberg reaps £1.98 billion from Facebook stock

Facebook CEO Mark Zuckerberg reaped a £1.98 billion ($3.3 billion) gain in 2013 by exercising stock options in the social networking company he founded at Harvard University.

Facebook CEO Mark Zuckerberg Credit: Olivier Douliery/ABACAUSA.com

In 2012, the now 29-year-old, also made $2.3 billion off his stock options. He even limited his Facebook salary to just $1, according to regulatory documents filed on Monday.

Read more on the Facebook empire that Zuckerberg built

Facebook to buy virtual reality company for $2bn

Facebook will acquire the two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2bn (£1.2bn).

It is Mark Zuckerberg's first venture into the fast-growing wearable technology industry.

The acquisition, which comes hot on the heels of its $19bn deal for messaging service WhatsApp, marks a big bet by Facebook to anticipate the next shift in an evolving technology industry, at a time when consumers are increasingly abandoning their PCs for smartphones.

"We're making a long-term bet that immersive, virtual and augmented reality will become a part of people's daily life," Facebook founder Zuckerberg said.

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Zuckerberg 'confused & frustrated' by US spy claims

Facebook co-founder Mark Zuckerberg has hit out at the US government over claims it covertly used the social networking site to gather intelligence data on individuals.

Zuckerberg said he was "confused and frustrated" by the reports and stressed that to "keep the internet strong, we need to keep it secure".

Facebook co-founder Mark Zuckerberg.
Facebook co-founder Mark Zuckerberg said he was 'confused and frustrated' by the reports. Credit: Olivier Douliery/ABACA USA/Empics Entertainment

He wrote in a Facebook post: "When our engineers work tirelessly to improve security, we imagine we're protecting you against criminals, not our own government.

"The US government should be the champion for the internet, not a threat. They need to be much more transparent about what they're doing, or otherwise people will believe the worst."

The internet mogul said he called President Barack Obama to discuss the issue, adding, "Unfortunately, it seems like it will take a very long time for true full reform."

Zuckerberg sells £1.4bn Facebook shares for tax reasons

Mark Zuckerberg pictured in Washington in September. Credit: Reuters

Facebook founder and CEO Mark Zuckerberg will sell 41.4 million shares worth about $2.3bn (£1.4bn) to pay a tax bill.

Zuckerberg's sale will reduce his voting power to 56.1 percent from 58.8 percent, the company said in a financial document.

Facebook said it expects Zuckerberg to use most of the net proceeds from the sale to satisfy taxes related to the exercise of an option to buy 60 million Class B shares.

Each Class A share is entitled to one vote, while Class B shares are entitled to 10 votes and are convertible at any time into one Class A share.

Board member Marc Andreessen will also sell 1.65 million Class A shares, while Facebook will sell 27 million in total.

Zuckerberg buys four adjacent houses for privacy

Mark Zuckerberg has taken privacy to a new level.

The creator of the world's biggest social network has reportedly spent over $30m on four houses surrounding his own home - to help keep his personal life to himself.

Mark Zuckerberg
The issues of privacy surrounding Zuckerberg's Facebook are often under debate. Credit: PA

But they won't be left empty - according to Mercury News, the Facebook founder will lease the existing homes back to the families that live there.

Why? So he can stop people capitalising on the the bragging rights of living next door.

A source reportedly claimed a "developer was going to build a huge house and market the property as being next door to Mark Zuckerberg."

Read: US spy programme claims raises privacy fears in the UK

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Facebook founder launches project to get world online

Mark Zuckerberg pictured in New York last year. Credit: Empics

Facebook founder Mark Zuckerberg has vowed to make internet access available around the globe by launching a new initiative to make getting online more affordable.

Currently 2.7 billion people have access to the web, but Mr Zuckerberg's goal is to make it possible for a further five billion.

The Facebook chief executive is launching internet.org in partnership with other companies including Ericsson, Samsung and Nokia, which will develop joint projects and share knowledge to bring the world online.

"There are huge barriers in developing countries to connecting and joining the knowledge economy," Mr Zuckerberg said.

"Internet.org brings together a global partnership that will work to overcome these challenges, including making internet access available to those who cannot currently afford it."

Man hacks Zuckerberg's wall to report Facebook 'bug'

A screenshot taken by Khalil Shreateh of his post on Mark Zuckerberg's page. Credit: http://khalil-sh.blogspot.co.uk

A blogger from Palestine used a hole in Facebook security to post a message about the flaw on founder Mark Zuckerberg's page.

Writing on his blog, IT graduate Khalil Shreateh says he attempted to report a "serious vulnerability" using the site's Whitehat system - which allows hackers to be paid for notifying the site of bugs - but was met with an email reply which said the issue was "not a bug."

Concerned about the issue, which appears to have allowed Shreateh to post on the pages of users who were not his Facebook friend, he said he then exploited the bug to post on Zuckerberg's wall.

Facebook then temporarily disabled Shreateh's account and said he would not be paid because his actions violated the site's terms of service, emails showed.

Facebook profits soar by 53% to £1.18 billion

Facebook has seen second quarter revenue soar to $1.813 billion (£1.18 billion) - a 53% increase on $1.184 billion (£770 million) in the same period last year.

The world's biggest social network made $333 million (£217 million) in net income from April to June compared with a net loss of $157 million dollars (£102 million) a year ago, according to the company's latest financial results.

Facebook second quarter profits soar by 53% to £1.18 billion.
Facebook second quarter profits soar by 53% to £1.18 billion. Credit: Susanne Lindholm/Scanpix/Press Association Images

The number of monthly users accessing Facebook on mobile devices - including smartphones and tablets - rose by 51% year on year to 819 million in June.

Facebook founder and chief executive Mark Zuckerberg said: "We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile.

"The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future."

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