The latest lockup expiration for Facebook's (FB) stock on Wednesday brought new attention to two of the social network's better-known shareholders -- Cameron and Tyler Winklevoss -- and the six million or so shares they received from the company as part of their 2008 cash-and-stock settlement with Mark Zuckerberg over the creation of the ultra popular site. After Wednesday's 12% rise, those shares are now worth roughly $134 million.According to reports, the pair plans to stick with Facebook for now. In fact, the "Winklevii," who have emerged as budding Internet moguls in recent months thanks to their Facebook fortune, are only planning to sell about $1 million worth of the company's stock at this time to help fund their latest venture, an e-commerce site called Hukkster.com, according to hard hitting financial news site TMZ.
Oddly enough, the first investment by the twins' new venture firm, Winklevoss Capital, was in a social network, but not the one with which they're most closely associated. SumZero, founded by fellow Harvard alums in 2008, is described as an invitation-only network aimed at financial professionals and is backed by $1 million of the twins' Facebook capital.
What do you think? Should the Winklevoss twins cut and run from Facebook or does it make sense to ride out the stock price for now?
- Arts & Entertainment
- Mark Zuckerberg