Facebook’s CEO Owes Uncle Sam Big
(Menlo Park, CA) Facebook’s CEO is facing a big tax bill this time around to the tune of more than a billion dollars.
The bill stems from Mark Zuckerberg’s decision to exercise a stock option and buy more than $60 million in Facebook shares when the site went public.
The IRS will treat those stock options as income, which translates to roughly $2 billion.
And since Zuckerberg’s tax rate is close to 50%, that comes out to roughly $1 billion.