Zuckerberg sold nearly half a billion dollars of meta stock in last two months
MARK Zuckerberg sold nearly half a billion US dollars of Meta Platforms shares in the final two months of 2023 after a two-year hiatus in which the company’s stock price hit its lowest in seven years.
The Meta chief executive sold shares on every trading day between Nov 1 and the end of the year, unloading nearly 1.3 million shares for about US$428 million, according to a Tuesday (Jan 2) regulatory filing.
On average, each sale took in US$10.4 million, with the largest on Dec 28 at US$17.1 million.
Before this period, Zuckerberg had not sold Meta shares since November 2021. The company’s share price rebounded 194 per cent last year from a seven-year low near the end of 2022. Meta shares outperformed those of every other major tech giant except Nvidia last year and is now near its September 2021 record high.
Zuckerberg, 39, owns about 13 per cent of Meta and has a net worth of about US$125 billion, according to the Bloomberg Billionaires Index, making him the seventh-richest person in the world.
Meta did not reply to a request for comment.
Marc Benioff, Zuckerberg’s peer in the tech world, also sold shares nearly every day in the second half of 2023. The Salesforce co-founder unloaded more than US$475 million worth of shares during the period, selling about 15,000 shares – about US$3 million – every day. BLOOMBERG
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