Mark Zuckerberg on Monday approved a savvy restructuring of Facebook stock that will allow him to give away his fortune to charity without losing his majority ownership of the social network.
Zuckerberg used his 54 percent voting power over Facebook to approve "Proposal 7," a Wall Street measure that will create and distribute new shares of non-voting Facebook stock to all shareholders.
This maneuver will allow individuals who hold Facebook's all-powerful B Class voting shares, most specifically Zuckerberg, to sell of portions of their social networking fortune without diluting their influence over the company.