Zuckerberg pockets $1.15bn in Facebook share sale

Facebook co-creator Mark Zuckerberg pocketed more than a billion US dollars today after one of the biggest ever US stock market flotations.

The social networking site's shares rose 5% early in their first day of trading after the listing valued the company at $104bn (€81.76bn) - bigger than Amazon or Disney.

The sale of 421 million shares at $38 each is thought to have netted up to $18.4bn (€14.46bn) for the company.

Chief executive Mr Zuckerberg, who created the website in his Harvard University dorm room in 2004, sold about 30 million shares, personally pocketing some $1.15bn (€904.14m).

He will retain a large stake in the company, making him worth an estimated $19.1bn (€15bn) overall - the 23rd richest person in the world aged just 28.

One thousand millionaires are expected to be created by the flotation, with U2 singer Bono set for a windfall after investing in the company previously.

Trading in the shares was delayed by about half an hour due to technical problems today.