Facebook, shareholders to offload 70M shares

As part of an offering of 70 million common shares by social network Facebook, founder and CEO Mark Zuckerberg will sell 41.4 million shares, worth about $2.3 billion, to pay a tax bill, according to Fox News.

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

The company CEO is expected to use the net proceeds to satisfy taxes related to the purchase of 60 million shares.

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