IPO would increase the fortune of Facebook founder Mark Zuckerberg
who would be worth $28 billion at a $100 billion valuation
with an economic control of about 28 per cent of the shares,
thereby ranking him as the fourth-richest American.
are that he would keep an iron grip over the company even
after the IPO, which analysts fear would mean little say for
investors in the management of the company.
Facebook states in its prospectus, Zuckerberg will "control
all matters submitted to stockholders for vote, as well as
the overall management and direction of our company."
major shareholders in Facebook include Accel Partners with
11.4 per cent of the investor votes and co-founder Dustin
Moskovitz, who holds 7.6 per cent voting power, Facebook employees
have majority stake at 30 per cent besides a host of institutions
and small investors.