Mark Zuckerberg, CEO and co-founder of Meta Platforms Inc (NASDAQ:FB), once again became a seller of stock in the business after a two-year hiatus, according to US reports citing a Securities and Exchange Commission (SEC) filing.
He offloaded equity worth US$428 million in daily transactions starting on 1 November - and did so as shares in the social media giant recovered from a seven-year low, adding 194% in 2023.
Zuckerberg's sales followed a pre-arranged Rule 10b5-1 trading plan established in July. This marked a break from his two-year pause in stock selling since November 2021.
With a 13% ownership in Meta, Zuckerberg's net worth is estimated at US$125 billion, making him the world's seventh-richest individual. Despite a slight decline in Meta's share price to US$344.47, it remains only 11% below its peak from September 2021.