Tech

Facebook´s CEO Mark Zuckerberg Wants To Go Into Government Without Giving Up Control Of The Company

By Luis Fran , Dec 09, 2016 07:31 PM EST
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Facebook CEO Marck Zuckerberg wants to pursue government service and at the same time retain total control of the social media network, since it was revealed through recently unsealed court filings that showed his political ambitions and the way the new stock structure allows him to take full reign of the company even if he decides to leave it for two years in order to work for the government, or even sell most of his stock. Of course, this gives him the possibilities of funding the "Chan-Zuckerberg Initiative" (his new philanthropy efforts) without any kind of issues.

An Incredible Structure To Control Shareholders

It was reported that these documents were filed as part of a shareholders lawsuit against Facebook´s board of director, after Zuckerberg proposed a major change that would dilute the voting power of the shareholders, putting three board members on a special committee to represent the shareholders in discussions.

In addition to this detail, it was also stated that Zuckerberg´s advisor Marc Andreesen was accused because of a conflict of interest since he gave him information about the board´s deliberation instead of representing the shareholders´ position. In fact, some texts messages excerpted from the court documents show that Facebook CEO and two members of the board discussed the chances of working with the government, and argued about how to explain it to shareholders. Overtly, this was a move that would definitely seem as a lack of commitment.

Facebook CEO Might Work For The Government In A Cabinet Position

Regarding this situation, it was reported that the lawsuit revealed that Bill Clinton's former chief of staff and one of the company´s board members on the special committee, Erskine Bowles, told Andreesen that he was extremely worried that the concession that Facebook CEO wanted in order to serve two years in the government without losing the social media network control, may see very irresponsible.

However, Bowles was later persuaded to Facebook CEO´s plan to go through, which was confirmed in another text message that Andreesen send to Zuckerberg, saying "Mission Accomplished." Whether it is not sure which duties could have Facebook CEO if he ended up working for the government.Many believe that he would work on a Cabinet position, giving the fact that those jobs only last two years.

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