Zuckerberg sells Meta shares for half a billion dollars
Meta CEO Zuckerberg last sold shares in the Facebook Group two years ago. A report has now emerged: Last year, the 39-year-old sold shares every day in November and December. Each sale brought him just under ten million dollars.
Meta CEO Mark Zuckerberg sold almost half a billion dollars worth of Facebook Group shares in the last two months of 2023. Zuckerberg sold shares on every trading day between November 1 and the end of the year, selling almost 1.28 million shares for around 428 million dollars, according to a published report.
According to the financial portal "Bloomberg", each sale brought in an average of 10.4 million dollars, with the largest sale on December 28th generating 17.1 million dollars. The last time Zuckerberg sold Meta shares was two years ago.
Last year, the company's share price recovered by 194 percent from a seven-year low at the end of 2022. Meta shares have outperformed the shares of all other major tech giants in the past year - with the exception of Nvidia Corp. and are now close to their record high from September 2021.
Zuckerberg owns around 13% of Meta and has a net worth of around 125 billion dollars, according to Bloomberg. That 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 has joined "The Giving Pledge" initiative. Signatories pledge to donate at least half of their assets to charitable causes during their lifetime or in their will.
Other CEOs from the tech scene have also sold shares in the past year. Salesforce co-founder Marc Benioff sold shares almost daily in the second half of 2023. He sold shares worth more than 475 million dollars during this period. Benioff sold around 15,000 shares every day. In October, Apple CEO Tim Cook sold 13% of his stake in the iPhone manufacturer for around 42 million dollars.
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In addition to Salesforce co-founder Marc Benioff, other tech CEOs like Mark Zuckerberg engaged in significant stock trading last year. Zuckerberg, selling Meta shares daily in November and December of 2023, amassed nearly half a billion dollars in profits.
Source: www.ntv.de
