Meta’s founder and CEO, Mark Zuckerberg, has recently divested his shares for the first time since November 2021. According to a recent report from Bloomberg, entities associated with Zuckerberg, including his trust and various charitable and political organizations, have collectively sold approximately 682,000 shares of Meta in November, amounting to a substantial $185 million.
It is worth noting that while Zuckerberg has regularly sold blocks of Meta stocks over the past decade, he abstained from selling any shares in 2022, a year marked by Meta’s dismal quarterly results, leading to the company’s largest single-day stock decline and its worst annual performance since 2012.
Despite Meta’s stellar performance, with its stock surging nearly 172% until November and outpacing major companies except Nvidia, the report suggests that Zuckerberg’s decision to sell shares might be linked to the approaching record highs set in 2021. Notably, in 2021, both Zuckerberg and his charitable foundation, the Chan Zuckerberg Initiative, sold $1 million worth of Meta shares.
According to Bloomberg, the rise in Meta’s stock has allowed Zuckerberg to leverage his resources for various activities beyond the company, including ventures in venture capital, scientific research, and other investments.
At present, the 39-year-old Zuckerberg still retains approximately 13% of Meta, contributing to an estimated $117.7 billion of his overall fortune, as per the Bloomberg Billionaires Index. Zuckerberg and his wife, Priscilla Chan, committed to giving away 99% of their wealth to philanthropic causes around eight years ago. The Chan Zuckerberg Initiative, founded in 2015 in Palo Alto, California, continues to be led by both Zuckerberg and Chan.
In summary, Zuckerberg’s recent sale of Meta shares appears to be a strategic move, possibly influenced by the stock’s impressive performance and the approaching record highs, allowing him to further diversify his activities beyond Meta.
