Facebook founder Zuckerberg faces $1 billion-plus tax bill

Facebook’s upcoming IPO will make founder and CEO Mark Zuckerberg a billionaire – but it will also stick him with an eye-popping tax bill that could reach as high as $2 billion.

Zuckerberg currently owns almost 414 million shares of Facebook, but he also holds options to buy another 120 million shares at the bargain price of 6 cents a piece. Facebook said in its IPO paperwork that Zuckerberg plans to exercise those options and will sell some of his shares during Facebook’s initial offering to cover the tax bill.

Full Story: Facebook founder Zuckerberg faces $1 billion-plus tax bill – Feb. 7, 2012.

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