Meta Platforms Inc (NASDAQ:FB) CEO Mark Zuckerberg sold 680,000 of his Meta shares in November, valued at almost $185 million, according to a US Securities and Exchange Commission (SEC) filing.
It was the social media mogul’s first Meta stock sale in two years.
The move comes as Meta’s stock price has surged 153% year to date, a nearly two-year high, significantly outperforming the share price performances of Amazon, Alphabet, and Apple so far in 2023.
Sales of shares, though, were part of a trading plan adopted on July 31, as part of Zuckerberg’s trust as well as entities for his charitable and political giving, Bloomberg reported.
In 2021, Zuckerberg as well as his charitable foundation, the Chan Zuckerberg Initiative, sold more than $1 billion of Meta stock.
He still owns about 13% of Meta, making up almost all of his $117.7 billion fortune, according to the Bloomberg Billionaires Index.
Shares of Meta Platforms slipped nearly 3% to $316.02 in early Monday trading.
Contact Sean at sean@proactiveinvestors.com