THE status of Mark Zuckerberg is soon to state ‘made it to the hall of taxpayer fame' but he will not ‘like' it for a bit. Mark Zukerberg who has declared plans to sell $5 billion worth of stock options is already adding the taxman into his friend list who will send him a tax bill of $ 2 billion once the stock sells.

This will likely be the largest individual tax bill ever paid out to the IRS. Experts say that in doing so he is registering major monetary gains that will be taxed as ordinary income at a 35% rate. There are ripple effects expected from such payment on the tax debate set to be a key topic in the upcoming election. The 27-year-old, who founded the firm eight years ago, is now worth an estimated $17.5billion and will be hit by the giant tax bill if reports are to be believed he would sell some of the shares to cover his tax bill, but it will mean he will own more of the company.

As the shares are taxable as ordinary income, when exercised, it means he will owe taxes on the difference between what he pays for his shares (6 cents) and their market value the day he exercises his options.