November 23, 2012 – In a revealing interview with Cooking Light Magazine, Mark Zuckerberg admitted to not understanding how Wall Street works. The Facebook CEO confessed, too, that he had never even heard basic market terms like “dividends” and “underwriters” before FB went public.
In the interview, he exposed details of Facebook’s decision to go public and shared a wonderful spinach quiche recipe.
Zuckerberg told Cooking Light, “So, when people buy my stocks it means they gave a ‘like’ to my company, right? Good. And when more people get Facebook stock, the more it costs to be my friend?”
“I mean, I have 900 million friends, so Facebook stock has to be pretty expensive.”
Zuckerberg’s revealing interview comes in the wake of Facebook’s highly disappointing 6 months on the stock exchange to date. Despite much hype in the weeks leading up to the company’s IPO, Facebook stock landed with a thud.
Stocks fell short of their original projections, and the company even faces a government hearing later this year following accusations of misconduct with investors. As of the yesterday’s closing numbers, FB now stands at $8.01 per share.
During the interview, Zuckerberg further admitted to not understanding how or why people would buy Facebook stocks. He said he couldn’t wrap his head around the idea of dividends and kept referring to underwriters as “money guys.”
“You throw around words like dividend and underwriter like I need to know what they mean. I made over a billion dollars and I never even heard of those words before we went public.” Zuckerberg continued. “IPO, bitches.”
Zuckerberg freely admitted that he only went public because Sean Parker told him to.
“Sean was all like, you know what’s cooler than a billion dollars? A zillion dollars,” Zuckerberg said.
“And I said, ‘hey that’s cool; let’s sell parts of the company so I can have more money than Greece.’”
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