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Facebook's Mark Zuckerberg faces $1 billion tax bill

Mark Zuckerberg - CNN

Facebook's stock market debut left founder and CEO Mark Zuckerberg with a paper fortune currently valued at $13 billion -- and a 2012 tax bill of around $1.1 billion.vZuckerberg's whopping tax hit stems from his move last May to increase his stake in Facebook. On the day of Facebook's initial public offering, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a "strike price" of 6 cents each.

 

Facebook's Zuckerberg pledges to give away wealth

Another 17 of America's richest people, including Facebook's Mark Zuckerberg, junk bond pioneer Michael Milken and AOL co-founder Steve Case, have pledged to give away most of their wealth.

 

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