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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/

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."

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.

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."

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