Facebook friend dumps stock

London - Facebook founder Mark Zuckerberg’s former university room-mate has dumped £70-million of shares in the company, amid growing unease about its prospects.

Dustin Moskowitz, Facebook’s third employee and the world’s youngest billionaire, joined a host of investors who have cashed in stock.

Facebook Ireland's taxable profit was cut to 5.76-million. Credit: AP

He sold 5.7m shares for around £68m, adding to nearly £19m he has already sold, but retains a stake worth some £1.5bn.

More than £30bn has been wiped off the firm’s value since it floated in May, amid fears it cannot make money from adverts when Facebook is used via smartphones. - Daily Mail