Facebook execs, investors to sell $5.5B in stock in IPO

Mark Zuckerberg to be one of the big sellers, netting $1.1 billion -- much of which will go toward taxes for exercising stock options.

Facebook is about to create a handful of liquid billionaires and millionaires.

Mark Zuckerberg and investors in Facebook plan to sell up to $5.5 billion in stock when the social-networking giant goes public in a few weeks, according to an SEC filing today. Combined, the executives and investors are expected to sell 157.4 million shares for as much as $35 each.

Zuckerberg is expected to sell 30.2 million of his 533.8 million shares, netting him about $1.1 billion, most of which will go toward paying taxes for exercising stock options. Venture capitalist and Facebook board member Jim Breyer plans to sell nearly 38.2 million for about $1.3 billion, while Peter Thiel will offer 7.7 million shares for about $270 million.

The IPO is also giving early investors a chance to cash in on their investment. Venture capital firm Accel Partners, which bought 15 percent of Facebook for $12.2 million in 2005, is expected to sell $1.3 billion in stock.

Digital Sky is expected to sell 26.3 million shares for as much as $919 million, while Goldman Sachs plans to sell 13.2 million shares for as much as $461.6 million.

Others expected to sell shares include Zynga CEO Mark Pincus, LinkedIn Chairman Reid Hoffman, Elevation Partners, and Greylock Partners.

Meanwhile, those holding on their shares include Facebook co-founder Dustin Moskovitz and former Facebook President Sean Parker.

Featured Video

Twitter flips order of some tweets, users flip out

Changes to Twitter's timeline could make the social network more appetizing to some -- and confusing to others. Meanwhile, LG teases an "always-on" screen for the G5 phone.

by Bridget Carey