Meta stock soars 170%... Zuckerberg sells $180 million worth

Amid a roughly 170% surge in the stock price of Meta Platforms, the parent company of Facebook, this year, CEO Mark Zuckerberg's side has initiated a large-scale stock sale.

[Image source=AFP Yonhap News]

Bloomberg reported on the 4th (local time) that, based on an analysis of regulatory filings, charitable and donation foundations managing Zuckerberg's wealth sold a total of 682,000 shares last month. This amounts to approximately $185 million (about 241.7 billion KRW). This is the first time Zuckerberg's side has sold shares in about two years since November 2021.

The reason behind this stock sale has not been disclosed. However, the sale drew attention as it took place amid Meta's stock price soaring this year. Zuckerberg's side has regularly sold shares over the past decade but did not sell a single share in 2022 when the stock price plummeted to around $100 per share due to poor performance and other factors.

[Image source=AFP Yonhap News]

Meta's stock price has surged an astonishing 172% through the end of November this year, currently trading well above $300 per share. The report stated, "This increase surpasses that of all major big tech companies except Nvidia," and added, "Meta's stock price is approaching the peak it reached in 2021." At that time, he sold $1 billion worth of shares through the charitable organization named after his wife, the Chan Zuckerberg Initiative.

According to Bloomberg's billionaire index, Zuckerberg holds a 13% stake in Meta. The report added that most of his $117.7 billion fortune is composed of Meta stock.

Meanwhile, on the New York Stock Exchange that day, Meta's stock price was trading around $316.8 per share, down more than 2% from the previous close. The year-to-date increase stands at 164%.

This content was produced with the assistance of AI translation services.