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New FB shares to increase Zuckerberg's control
short by Aditya Kashyap / on Tuesday, 21 June, 2016
Facebook has approved the creation of a new class of shares in a move that will ensure its founder Mark Zuckerberg keeps majority ownership even if the firm issues new shares in the future. The move allows Zuckerberg and his wife to implement their pledge of donating 99% of their shares for philanthropic activities, without diluting voting control.