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Mark Zuckerberg sells $190 million of Meta stock after epic rally

Dec 05, 2023 - businessinsider.com
Mark Zuckerberg, CEO of Meta Platforms, sold approximately $190 million worth of company shares in November, according to SEC filings. This marks his first sale since 2021. The sales were disclosed by Zuckerberg's trust and other entities he uses for charitable and political donations, which sold over 500,000 shares under trading plans set up in the summer.

Despite a crash in 2022, Meta shares have rebounded with a 166% increase this year, outperforming the Nasdaq Composite's 36% gain. This surge has been driven by renewed investor interest in Big Tech, particularly in the potential of artificial intelligence. Other tech CEOs, including Apple's Tim Cook and Amazon's Jeff Bezos, have also made significant stock transactions this year.

Key takeaways:

  • Mark Zuckerberg sold approximately $190 million worth of Meta Platforms shares in November, his first disposals since 2021.
  • Meta Platforms' shares have surged by 166% this year, virtually erasing the losses from 2022.
  • The company's success is attributed to the tech-stock boom driven by excitement around artificial intelligence.
  • Zuckerberg and his wife, Priscilla Chan, have pledged to donate 99% of their Meta shares to charitable causes during their lifetimes.
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