Mark Zuckerberg sold $428 million worth of Meta stock in the last two months of 2023.
Mark Zuckerberg’s 2023 stock rally has paid off in a big way, including selling about $428 million worth of shares of Meta Platforms Inc. in the final two months of the year.
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The co-founder and CEO sold just under 1.8 million shares during each trading day from Nov. 1 to the end of last year, according to a regulatory filing with the U.S. Securities and Exchange Commission on Tuesday.
The sale follows a Rule 10b5-1 trading plan that Zuckerberg adopted in July and allowed him to take advantage of Meta’s rebounding stock price, which has surged 194.1% in 2023 and has nearly tripled since hitting a seven-year low in November 2022. By comparison, the S&P 500 SPX and Nasdaq Composite COMP indices are up 24.2% and 43.4%, respectively, in 2023.
The move breaks a two-year hiatus starting in November 2021 in which Zuckerberg did not sell any shares of Facebook’s parent company, according to Bloomberg, which first reported the news. According to the Bloomberg Billionaires Index, Zuckerberg, who owns about 13% of Meta, is the world’s seventh-richest person with a net worth of $125 billion.
Shares of Nasdaq-listed Meta fell 0.5% to $344.47 on Wednesday and are now down about 11% from their all-time high of $382.18 in September 2021.
A Meta representative could not immediately be reached for comment.
