Wednesday, February 21, 2024

Zuckerberg sold “Meta” shares for the first time in two years

Date:

The Zuckerberg-owned private debt fund, along with its affiliates in the sector supporting philanthropy and political causes, disposed of about 682,000 shares worth about $185 million in November through trading programs, according to data compiled by Bloomberg. It was revealed last Wednesday.

It was the first time since November 2021 that the companies that manage Zuckerberg’s wealth have sold shares.

Notably, Meta shares have risen 1,720 percent this year through the end of November, outperforming all major US technology companies except Nvidia.

Zuckerberg, who currently ranks ninth on Bloomberg’s list of the world’s richest people, has sold consistent amounts of Meta stocks over the past decade, but he hasn’t sold a single share in 2022. One of the biggest declines in the value of stocks. It was Meta’s worst annual performance for a single day since its initial public offering in 2012.

Meta’s shares are nearing a record high in 2021, when Zuckerberg and his philanthropy, the San Zuckerberg Initiative, sold more than $1 billion worth of shares in the Menlo Park, California-headquartered company.

According to the Bloomberg Billionaires Index, Zuckerberg (age 39) still owns 13 percent of Meta, which accounts for his nearly $118 billion fortune.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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