Agencies – For the first time in two years, Mark Zuckerberg sold shares in Meta Platforms, the parent company of Facebook and Instagram, after the social media giant’s rapid recovery from a turbulent 2022.
According to data collected by Bloomberg, the private credit fund owned by Zuckerberg, in addition to its affiliated entities in the field of charitable work and supporting political causes, disposed of about 682,000 shares worth approximately $185 million in November through trading plans, the last of which was revealed last Wednesday.
This is the first time that the entities managing Zuckerberg’s wealth have sold shares since November 2021.
It is noteworthy that Meta shares rose by 1,720% this year until the end of November, outperforming all major American technology companies, other than NVIDIA.
Zuckerberg, who currently ranks ninth on Bloomberg’s list of the world’s richest people, has been selling quantities of Meta shares on a regular basis over the past decade, but he did not sell a single share in 2022, after the disastrous quarterly results that led to one of the largest declines in the value of shares. For one day, the worst annual performance for “Meta” since its initial public offering in 2012.
Meta stock is currently approaching the record high levels it recorded in 2021, when Zuckerberg and his charitable foundation, the Chan Zuckerberg Initiative, sold shares worth more than $1 billion in the company, which is headquartered in Menlo Park, California.
Zuckerberg (39 years old) still owns about 13% of Meta, which constitutes almost all of his wealth, amounting to about $118 billion, according to the Bloomberg Billionaires Index.
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2023-12-04 17:12:17
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