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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.

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.

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 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."

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