Man claims He Owns 84% of Facebook

Posted: July 13, 2010 in Tech

A New Yorker who designed the original website for Mark Zuckerberg that eventually grew into Facebook has claimed that he owns 84 per cent of the company. Wellsville, NY resident Paul D. Ceglia claims to own a whopping 84% stake of Facebook dating back to 2003.

Ceglia says he entered into a contract with Facebook founder Mark Zuckerberg in 2003 to build the site, and that in that contract he was promised $1,000 and a 50% stake in the company. He says the contract included a clause that entitled him to a further 1% of the company per day until the site launched, which happened 34 days later–hence the 84% claim.

“We believe this suit is completely frivolous and we will fight it vigorously,” says Facebook’s senior manager for communications, Barry Schnitt. “The order will not affect our ability to do business but we do not believe it is legally supported and we have moved to have it vacated.”

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