WhatsApp CEOs Early Facebook Exit Could Cost Him $1 Billion

  • WhatsApp co-founder still has appeared in a $10. 4 billion lot of money
  • He’ s said to have clashed to executives over strategy

Jan Koum’ s exit from Facebook Incorporation. could cost him as much as $1 billion.

The chief executive officer associated with messaging unit WhatsApp confirmed within a Facebook post Monday that he’ s leaving the company. The statement precedes the final three vesting schedules of restricted stock awards associated with Facebook’ s $22 billion buy of WhatsApp in 2014.

" It is time for me to move on, " Koum, 42, said in the post. " I’ m taking some time away from to do things I enjoy outside of technologies, such as collecting rare air-cooled Porsches, working on my cars and actively playing ultimate Frisbee. ”

Koum got regarding 24. 9 million restricted gives as part of the deal, most of which has currently vested. Of those remaining, 1 . nine million are due to vest within mid-May and mid-August, respectively, along with a final tranche of 2 . one million in November.

The honours are contingent on him working through those dates. He’ deb forfeit 5. 8 million stocks — worth $997. 5 mil as of Monday’ s close — if he leaves before Might 15, unless his exit is definitely categorized as an involuntary termination or even resignation for good reason, regulatory filings display.

The precise circumstances associated with his departure aren’ t crystal clear. Koum won’ t stand for re-election to the board at Facebook’ ersus May 31 annual meeting, the organization said in a filing. A spokeswoman for the Menlo Park, California-based company declined to say when Koum’ s i9000 departure takes effect.

Koum clashed with other executives more than strategy, the Washington Post documented Monday. Brian Acton, who co-founded WhatsApp with Koum, announced their departure from Facebook last year. Within March, Acton posted the #DeleteFacebook hashtag amid outrage over the interpersonal network’ s data-privacy lapses.

Even if he leaves some cash on the table, Koum has still appeared in a $10. 4 billion lot of money, having sold $8 billion associated with Facebook stock since 2015, based on the Bloomberg Billionaires Index , a position of the world’ s 500 wealthiest people. He’ s No . 136 on the list.