The billionaire cofounder of WhatsApp is ‘resting and vesting’ — showing up to Facebook and barely working in order to collect a $450 million payday (FB)

• WhatsApp cofounder Jan Koum announced he planned to leave Facebook in April.
• But he’s still showing up to the office once a month so he can continue to collect $ 450 million in Facebook stock he’s contractually due from when Facebook bought his company.
• It’s a high-dollar example of “rest and vest,” where big tech companies pay senior employees who don’t do much work. 
• Koum has already sold over $ 7 billion in Facebook stock. 

WhatsApp cofounder Jan Koum said in April that he planned to leave Facebook, which bought his company for $ 19 billion in 2014. He’s already sold $ 7.1 billion worth of Facebook shares. 

But he’s still showing up to the office, The Wall Street Journal reports, to collect one last payday: $ 450 million in stock.

See the rest of the story at Business Insider

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