- Mark Zuckerberg, co-founder and CEO of Meta, strategically sold nearly $428 million worth of shares in the last two months of 2023, taking advantage of Meta's impressive stock rally. The sales, totaling just under 1.8 million shares, were executed daily between November 1 and the year-end, as revealed in a regulatory filing with the U.S. Securities and Exchange Commission. Zuckerberg followed a Rule 10b5-1 trading plan adopted in July, capitalizing on Meta's substantial stock price rebound, which surged by 194.1% in 2023, marking a nearly threefold increase since hitting a seven-year low in November 2022.
- Meta's stock price resilience contrasted with a 0.5% dip on Wednesday, settling at $344.47, approximately 11% below its all-time closing high in September 2021. As one of the largest shareholders with about 13% ownership in Meta, Zuckerberg, ranked as the seventh-richest person globally, holds a net worth of $125 billion, according to the Bloomberg Billionaires Index.
Why it matters
This move concluded a two-year hiatus in stock sales by Zuckerberg, dating back to November 2021. The decision to sell shares aligns with Meta's robust performance in 2023, outpacing broader market indices.