{"id":2605,"date":"2017-01-04T20:26:46","date_gmt":"2017-01-04T20:26:46","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/zuckerberg-could-run-facebook-while-serving-in-government-forever.html"},"modified":"2017-01-04T20:26:46","modified_gmt":"2017-01-04T20:26:46","slug":"zuckerberg-could-run-facebook-while-serving-in-government-forever","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/zuckerberg-could-run-facebook-while-serving-in-government-forever.html","title":{"rendered":"Zuckerberg could run Facebook while serving in government forever"},"content":{"rendered":"


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Mark Zuckerberg is not limited to just two years working in the government while still controlling Facebook, as has been widely misreported. A closer examination of SEC documents<\/a> reveals Zuck only needs to still own enough Facebook stock or have the board\u2019s approval to be allowed to serve in government indefinitely.<\/p>\n

Combined with Zuckerberg\u2019s announcement yesterday that his 2017 personal challenge is to meet and listen to people in all 50 states<\/a>, this fact\u00a0lends weight to the idea that Zuckerberg may be serious about diving into politics.<\/p>\n

Without the limit, Zuckerberg has the opportunity to be appointed or elected to a more significant office and have as much time as he wants to make an impact, rather than just dipping in potentially as a cabinet member whose terms typically last less than two years.<\/p>\n

Of course, getting elected would require the faith of the people which has been shaken by the fake news scandal. Some would surely view a role in government as a selfish push for power despite Zuckerberg\u2019s massive philanthropy initiatives. Certain government offices might have historically required him to give up control of Facebook, but Donald Trump is currently redefining how much ownership of business one can have as President<\/p>\n

\"zuckerberg-in-government\"<\/p>\n

Zuckerberg meets with the President of Brazil (top), the President of Israel (left), and the President of Mexico (right)<\/p>\n

The confusion arose from Bloomberg\u2019s<\/a> interpretation of unsealed court filings regarding correspondence between Zuckerberg and Facebook board member Marc Andreessen. They secretly texted about how to convince other board members to approve the creation of Class C non-voting shares that would allow Zuckerberg to retain voting control of Facebook as he donates the majority of his wealth to his and his wife\u2019s philanthropic vehicle, the Chan Zuckerberg Initiative.<\/p>\n

As part of the negotiation, Zuckerberg agreed to several ways for Facebook to \u201cmitigate succession risk\u201d \u2014 essentially avoid Zuckerberg and his estate retaining total control thanks to his 10-votes-per-share Class B stock in case he dies, becomes disabled, is fired, or voluntarily resigns and leaves the company. In these cases, his stock converts into single-vote Class A shares so that Facebook could attract a higher quality replacement CEO since an absent Zuckerberg wouldn\u2019t still control the company.<\/p>\n

\"zuckerberg-india\"<\/p>\n

Zuckerberg and Sandberg meet with India\u2019s Prime Minister Narendra Modi<\/p>\n

But Zuckerberg fought for a big exception to the resignation \u201csunset trigger\u201d: he may voluntarily resign or take a leave of absence while still maintaining voting control of Facebook if he\u2019s going to work in government. The only limits on this are that he must either:<\/p>\n