Price recovers by 194 percent
Zuckerberg sells Meta shares for half a billion dollars
January 4, 2024, 11:22 a.m
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Meta boss Zuckerberg last sold shares in the Facebook Group two years ago. A report now shows: Last year, the 39-year-old sold shares every day in November and December. Each sale brings him almost ten million dollars.
Meta boss Mark Zuckerberg sold shares in the Facebook Group worth almost half a billion dollars in the last two months of 2023. Zuckerberg sold shares every trading day between Nov. 1 and the end of the year, shedding nearly 1.28 million shares for about $428 million, according to a published report.
On average, each sale brought in $10.4 million, according to the financial portal “Bloomberg,” with the largest sale on December 28 bringing in $17.1 million. Zuckerberg last sold Meta shares two years ago.
The company’s share price has recovered 194 percent over the past year from a seven-year low at the end of 2022. Meta stocks have outperformed shares of all other major tech giants over the past year – with the exception of Nvidia Corp. and are now near their September 2021 record high.
Zuckerberg owns about 13 percent of Meta and has a net worth of about $125 billion, according to Bloomberg. This makes him the seventh richest person in the world. The 39-year-old and his wife want to donate their Meta shares to good causes during their lifetime. The tech entrepreneur joined “The Giving Pledge” initiative. The signatories undertake to donate at least half of their assets to charitable purposes during their lifetime or in their will.
Other managing directors from the tech scene also sold stocks last year. Salesforce co-founder Marc Benioff sold shares almost daily in the second half of 2023. He sold more than $475 million worth of shares during this period. Benioff sold about 15,000 shares a day. Apple boss Tim Cook sold 13 percent of his stake in the iPhone manufacturer in October for around $42 million.