WhatsApp CEOs Early Facebook Exit Could Cost Him $1 Billion

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  • WhatsApp co-founder still has actually generated a $10.4 billion fortune
  • He’ s stated to have actually encountered other executives over technique

    Jan Koum &#x 2019; s exit from Facebook Inc. might cost him as much as $1 billion.

    The ceo of messaging system WhatsApp validated in a Facebook post Monday that he &#x 2019; s leaving the business. The statement precedes the last 3 vesting dates of limited stock awards connected to Facebook &#x 2019; s $22 billion purchase of WhatsApp in 2014.

    “”It is time for me to carry on,” “Koum, 42, stated in the post. “”I &#x 2019; m taking a while off to do things I take pleasure in beyond innovation, such as gathering unusual air-cooled Porsches, dealing with my automobiles and playing supreme Frisbee. &#x 201D;

    Koum got about 24.9 million limited shares as part of the offer, the majority of which has actually currently vested. Of those staying, 1.9 million are because of vest in mid-May and mid-August, respectively, plus a last tranche of 2.1 million in November.

    The awards are contingent on him being used through those dates. He &#x 2019;d surrender 5.8 million shares– worth $997.5 million since Monday &#x 2019; s close– if he leaves prior to May 15, unless his exit is classified as an uncontrolled termination or resignation for great factor, regulative filings reveal.

    The accurate situations of his departure aren &#x 2019; t clear. Koum #x &won 2019; t mean re-election to the board at Facebook &#x 2019; s May 31 yearly conference, the business stated in a filing. A spokesperson for the Menlo Park, California-based company decreased to state when Koum &#x 2019; s departure works.

    Koum encountered other executives over technique, the Washington Post reported Monday. Brian Acton, who co-founded WhatsApp with Koum, revealed his departure from Facebook in 2015. In March, Acton published the #DeleteFacebook hashtag in the middle of outrage over the social media &#x 2019; s data-privacy lapses.

    Even if he leaves some cash on the table, Koum has actually still accumulated a $10.4 billion fortune, having actually offered $8 billion of Facebook stock considering that 2015, inning accordance with the Bloomberg Billionaires Index , a ranking of the world &#x 2019; s 500 wealthiest individuals. He &#x 2019; s No. 136 on the list.

    Read more: http://www.bloomberg.com/news/articles/2018-04-30/facebook-s-jan-koum-may-spurn-1-billion-on-early-whatsapp-exit

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