COE Meta Platforms Mark Zuckerberg sold approximately $428 million worth of company shares in the fourth quarter of 2023. Bloomberg writes about this.
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What is known
It is noted that these are the first sales of shares in two years, and they occurred against the backdrop of the company's share price falling to its lowest level in the last seven years. Zuckerberg sold shares every trading day from November 1 until the end of the year, selling nearly 1.28 million shares worth about $428 million, according to a regulatory filing Tuesday.
On average, each sale brought in $10.4 million, and the largest was on December 28 in the amount of $17.1 million.
“Before this, Zuckerberg had not sold Meta shares since November 2021. Last year, the company's share price rose 194% from a seven-year low at the end of 2022,” the report said.
In addition, in 2023, Meta shares outperformed shares of all other major technology giants except Nvidia Corp. ., and are now approaching their all-time high of September 2021.
In total, Zuckerberg owns about 13% of Meta shares and is worth about $125 billion, according to the Bloomberg Billionaires Index, making him the seventh richest person in the world.
- Shares (securities)
