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If you watched David Fincher’s The Social Network you’re aware of Facebook’s controversial beginnings and the multiple lawsuits that the company found itself in the midst of. For those that aren’t aware, in its early years, Facebook was sued by Tyler and Cameron Winklevoss for intellectual property theft and by Eduardo Saverin for unfair dilution of shares. Facebook settled both suits out of court. While the social media platform moved on from the initial controversies, it garnered new ones along the way. Some suggest that it was partly the reason why Facebook rebranded to ‘Meta’. In this article, we explain who owns Facebook, listing the major shareholders in the company.
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Table of Contents
Mark Zuckerberg
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This may come as a surprise to some, Mark Zuckerberg only owns only 13% of Facebook (Meta) stocks. Yet he holds the majority voting power in the company. This is because Facebook’s shares are divided into two categories – Class A and Class B. Class A shares are publicly traded on the stock market. Every Class A share gives the holder one vote. Class B shares are owned privately by Mark Zuckerberg and a few other investors. Every Class B share gives the holder 10 votes. Zuckerberg is currently valued at $71 billion, making him one of the richest people in the world.
Accel Partners
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Venture capitalist Jim Breyer holds 11.4% of Facebook stocks through his company Accel Partners. A share of 11.4% translates to a net worth of 11.4 billion. Fortune Magazine listed Breyer as one of the top 10 smartest people in technology back in August 2010.
Dustin Moskovitz
Co-founder of Facebook, Dustin Moskovitz owns 7.6% of the company’s shares, which would put his net stake at slightly over $7 billion. Moskovitz left Facebook back in 2008 to create his own photo-sharing platform called ‘Path’. Attracting lucrative offers from the likes of Google, Path still managed to stay independent and now boasts an active user base of over 2 million people.
Eduardo Saverin
Co-founder Eduardo Saverin owns about $5 billion worth of shares in Facebook. Saverin was also involved in a lawsuit against Facebook in the company’s early years, accusing the founders of unfairly diluting his shares. While retaining his stock in Facebook, Saverin went on to become an angel investor. Currently residing in Singapore, Saverin holds significant shares in several Asian startups.
Sean Parker
Knowing for creating notoriety with the file-sharing website Napster, Sean Parker initially joined Facebook as an advisor but now owns about 4% of the company’s stock. Parker also holds shares in some of the biggest internet platforms, including Spotify. Sean Parker was also Facebook’s first president.
Peter Thiel
Co-founder of PayPal and Palantir, Peter Thiel’s shares in Facebook amount to almost $3 billion. Thiel was one of the early investors in Facebook, having first bought shares back in 2005. He was also one of the largest individual shareholders in Facebook following his first investment.
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Conclusion
Apart from the people listed above, Chris Hughes, Bill Gates, Li Ka-shing, and Digital Sky Technologies also hold varying stocks in Facebook. In 2021, Facebook rebranded to Meta as the company started to branch out into VR tech, with the acquisition of Occulus. To differentiate between the social media platform and the company, the latter was renamed Meta. This did not have any effect on the company’s ownership whatsoever.
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As an avid enthusiast deeply entrenched in the realm of technology, social media, and corporate landscapes, I can provide you with a comprehensive understanding of the intricate details surrounding the ownership structure of Facebook, now known as Meta. Drawing upon my wealth of knowledge in this domain, I'll delve into the key concepts and individuals mentioned in the article.
Mark Zuckerberg: Mark Zuckerberg, the iconic figure behind Facebook's inception, possesses only 13% of Meta stocks. The fascinating aspect lies in the distribution of voting power within the company, where Class A and Class B shares play a pivotal role. While Zuckerberg's ownership seems relatively modest at 13%, the majority voting power is consolidated in his hands due to the unique structure of Class B shares, with each such share granting 10 votes. This intricacy positions Zuckerberg as a key decision-maker, notwithstanding his seemingly lower percentage ownership.
Accel Partners: Venture capitalist Jim Breyer, representing Accel Partners, emerges as a substantial player in Facebook's ownership landscape. Holding 11.4% of the company's stocks, Breyer's influence extends beyond mere ownership, earning him a spot among the top 10 smartest people in technology, as recognized by Fortune Magazine.
Dustin Moskovitz: Dustin Moskovitz, a co-founder of Facebook, boasts ownership of 7.6% of the company's shares. Following his departure in 2008 to establish the photo-sharing platform 'Path,' Moskovitz's net stake in Facebook is valued at over $7 billion. His entrepreneurial journey post-Facebook adds an intriguing layer to his role in the company's history.
Eduardo Saverin: Eduardo Saverin, another co-founder entangled in the early legal battles of Facebook, owns approximately $5 billion worth of shares. Despite legal disputes, Saverin maintained his stake and later transitioned into the role of an angel investor, contributing to the growth of several Asian startups.
Sean Parker: Sean Parker, known for his association with Napster and as Facebook's first president, holds about 4% of the company's stock. His diverse portfolio includes shares in major internet platforms such as Spotify, highlighting his influential presence in the tech industry.
Peter Thiel: Co-founder of PayPal and Palantir, Peter Thiel's involvement as an early investor in Facebook since 2005 positions him as a significant shareholder with shares amounting to almost $3 billion. Thiel's multifaceted role in various tech ventures underscores his strategic impact on the industry.
In addition to the individuals mentioned, the article touches upon other notable figures like Chris Hughes, Bill Gates, Li Ka-shing, and Digital Sky Technologies, who also hold varying stocks in Facebook. The narrative concludes by referencing the rebranding of Facebook to Meta in 2021, a move associated with the company's foray into VR tech through the acquisition of Oculus. Importantly, this rebranding does not alter the fundamental ownership structure of the company, providing continuity amid its evolution.
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