"Facebook withdrew a proposal on Friday that would have split the company’s stock and issued a new class of non-voting shares to the general public — a restructuring that would have allowed CEO Mark Zuckerberg to retain control over the company even while selling his own shares to fund his philanthropic endeavors.Six key questions for Mark Zuckerberg after he gave up on trying to split Facebook stock - Recode
The retraction was a surprise. Zuckerberg, along with his wife Priscilla Chan, have pledged to give away 99 percent of their Facebook shares over their lifetime. That will mean that the couple is planning to simultaneously give away money while also giving away Zuckerberg’s control over Facebook.
Which is why the stock restructuring plan made sense. At least for Zuckerberg. And now that Facebook and Zuckerberg have backed off, a lot of other questions have suddenly cropped up."
Monday, September 25, 2017
Six key questions for Mark Zuckerberg after he gave up on trying to split Facebook stock - Recode
Check the full article for a timely Facebook control reality check