Mark Zuckerberg on Tuesday completed the transaction of the 30.2 million shares he sold in Facebook's IPO Friday.
The shares he disposed of sold for $37.58 a piece, bringing him a cool $1.1 billion. But despite all that money, the Facebook CEO will be spending most of it to cover taxes, according to a document filed with the Securities and Exchange Commission.
That's too bad because buying an island or a small country for a billion dollars could have gone a long way in cheering up the leader of a company whose stock keeps tanking.
For the third day in a row, Facebook's shares closed at a lower price than at which they opened. After the stock began trading at $42.05 on Friday, they closed at $31 on Tuesday.