- Snap CEO Evan Spiegel sold $50 million in Snap stock.
- It's his first stock sale since Snap's IPO.
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Snap CEO Evan Spiegel sold $50 million in Snap stock — his first sale since the IPO (SNAP)
The Snap CEO is worth $4.5 billion.
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Snap CEO Evan Spiegel sold
The transaction was disclosed in a filing with the SEC, which you can read here.
It's Spiegel's first official public stock sale since Snap's IPO last March. He previously promised not to sell any of his stock during 2017.
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The sale was conducted according to a He still retains control of the company and its primary product, Snapchat, as does his co-founder Bobby Murphy.
Spiegel's fortune is worth roughly $4.5 billion.
Earlier this week, he defended Snapchat's recent controversial redesign at a conference in San Francisco.
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