The company’s stock price rose 194% last year from a seven-year low at the end of 2022. Meta shares outperformed every other major tech giant except Nvidia Corp last year.
Mark Zuckerberg sold nearly half a billion dollars worth of shares of Meta Platforms in the final two months of 2023 after two years of decline, during which time the company’s share price fell to its lowest in seven years. According to a stock exchange filing on Tuesday, Meta’s chief executive sold shares every trading day between November 1 and the end of the year, selling about 1.28 million shares for about $428 million.
Each sale averaged $10.4 million in share value, with the highest-ever sale of $17.1 million on December 28. Since November 2021, Zuckerberg has not sold Meta shares. The company’s share price surged 194% last year from a seven-year low at the end of 2022. Meta shares outperformed every other major tech giant except Nvidia Corp. last year and are now close to the record highs of September 2021.
According to the Bloomberg Billionaires Index, the 39-year-old Zuckerberg owns about 13% of Meta’s shares and has a net worth of about $125 billion, making him the seventh richest person in the world. The company did not respond to a request for comment on Zuckerberg’s sale of Meta shares. Zuckerberg’s counterpart in the tech world, Marc Benioff, also sold shares almost every day in the second half of 2023. The Salesforce co-founder sold more than $475 million worth of shares during the period. During this period, about 15,000 shares were sold every day, which were valued at about $ 3 million.
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