Zuckerberg profited on Meta's record high by selling an additional $134 million worth of shares

Zuckerberg profited on Meta's record high by selling an additional $134 million worth of shares

Mark Zuckerberg has sold shares for $765 million since November.

Zuckerberg's $170 billion net wealth is mostly derived from his approximately 13 percent ownership in Meta.

Mark Zuckerberg keeps getting away with charging ridiculous prices for Meta Platform shares. The co-founder of Facebook sold $134 million worth of technology group shares on February 8, increasing the total amount of shares sold until November 2023 to $765 million.

Shares of Meta, the parent company of Facebook, have increased by more than 160 percent in the last year, more than tripling the wealth of investors. The tech-heavy Nasdaq Composite, on the other hand, has increased by around 33 percent during the same time frame.

The co-founder of Meta's trust, together with his political and charity organizations, sold 682,000 shares in November for around $185 million. The CEO of Facebook raised almost $428 million by selling over 1.8 million shares in two months before the year ended.

Zuckerberg's $170 billion net wealth is mostly derived from his approximately 13 percent ownership in Meta.

Over the previous ten years, the CEO of Facebook has been selling shares of the social media business on a regular basis; but, in 2022, he did not sell any stock. Experts predicted that this would lead to a drop in Meta stock, given that the price fell 26% in a single day after a harsh fourth-quarter results release in February 2022.

On February 1, Zuckerberg announced a $0.50 dividend for each Class A and Class B common shares, after the now-viral Senate hearing. The dividend is anticipated to be paid on March 26; the record date is February 22. With his 350 million Meta shares, this dividend may provide the co-founder of Facebook with a tidy $700 million windfall.

The dividend announcement caused Meta stock to rise more than 20% intraday and cross the $400 threshold. Following a strong rise in January 2024, Facebook's stock surged to $485.96 per share, a record high that had previously only been attained in September 2021.