Zuckerberg sold $185 million worth of Meta shares for the first time in two years – Kommersant
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Head of Meta Platforms Inc. (recognized as extremist and banned in Russia) Mark Zuckerberg sold shares of his company for the first time in two years. For 682 thousand securities he received almost $185 million, reports Bloomberg citing SEC filings.
The agency writes that the shares were sold against the backdrop of rising quotes. Meta’s market value rose 172% from January to November 2023, outpacing all US tech companies after Nvidia Corp. The stock price is near its 2021 all-time high.
The sale of securities, as Bloomberg clarifies, will allow Mark Zuckerberg to maximize income from venture capital, investments in other companies and scientific research. The billionaire has regularly sold stakes in Meta, with the exception of 2022, when the company’s results were the worst since it went public in 2012.
According to the Bloomberg Billionaires Index, Mr. Zuckerberg currently owns 13% of Meta shares, which is about $177.7 billion. In May 2023, the billionaire became the richest person at that time – his fortune increased by $44 billion, to $89.9 billion.
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