Koum may forgo US $ 1.2bil at Facebook for Porsches – Tech News

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Koum would forfeit 7.06 million shares – worth US$1.2bil (RM4.77bil) as of Monday’s close – if he leaves before May 15, unless his exit is categorized as an involuntary termination or resignation for good reason, regulatory filings show. — AP

Jan Koum's exit from Facebook Inc could cost him as much as US $ 1.2bil (RM4.77bil).

The chief executive officer of the messaging unit WhatsApp confirmed in a Facebook post Monday that he's leaving the company. The purchase of WhatsApp in 2014.

“It is time for me to move on,” Koum, 42, said in the post. “I'm taking some time off to do things.” I got a 24.9 million limited shares as part of the the deal, most of which has already been vested. Of those remaining, 2.49 million are due to vest in mid-May and mid-August, respectively, plus a final tranche of 2.1 million in November.

The awards are contingent on him being employed through those dates. He'd forfeit 7.06 million shares – worth US $ 1.2bil (RM4.77bil) as of Monday's close – if he leaves before May 15, unless his exit is categorized as an involuntary termination or resignation for good reason, regulatory filings show.

The precise circumstances of his departure are not clear. Koum will not stand for re-election to the board at Facebook's May 31 annual meeting, the company said in a filing. A spokeswoman for the Menlo Park, California-based firm declined to say when Koum's departure takes effect.

Koum clashed with other executives over the strategy, the Washington Post reported on May 14. Brian Acton, who co-founded WhatsApp with Koum, announced his departure from Facebook last year. In March, Acton posted the #DeleteFacebook hashtag amid outrage over the social network's data-privacy lapses.

Even if he leaves some money on the table, Koum has still amassed a US $ 10.4bil (RM41.37bil) fortune, having sold US $ 8bil (RM31.82bil) of Facebook stock since 2015, according to the Bloomberg Billionaires Index , and ranking of the world's 500 richest people. He's No 136 on the list. – Bloomberg


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