Zuckerberg Sells 682,000 Shares of Meta: Worth Approximately 1,584 Crores, Company’s Stock Surges 172% Year-to-Date
Mark Zuckerberg Sells Shares in Meta Platforms Inc. for the First Time in Two Years
Mark Zuckerberg, the founder of Meta Platforms Inc. (formerly Facebook), has sold shares in Meta Platforms Inc. for the first time in two years. According to regulatory filings, Zuckerberg, through his trust and other affiliated entities, sold approximately 6,82,000 shares in Meta Platforms Inc. in early November. The estimated value of these shares is around $185 million (approximately ₹1,584 crore).
This move comes after Meta Platforms Inc. experienced a decline in the value of its shares in 2022. Selling a significant number of shares indicates a notable shift in Zuckerberg’s portfolio strategy. It is essential to note that such transactions by high-profile individuals often attract attention as they can be seen as indicators of their confidence in the company’s future performance or potential concerns.
Meta Shares Witness a Surge of 172% This Year
Mark Zuckerberg, the CEO of Meta Platforms Inc. (formerly Facebook), has experienced a significant increase in the value of Meta shares this year. Since November 2021, it is the first time that organizations managing Zuckerberg’s wealth have sold Meta shares. The value of Meta shares has surged by 172% from November until now this year.
In 2022, there was a noticeable decline in the company’s shares due to quarterly results. However, Zuckerberg did not sell any shares during that period. Subsequently, there has been a remarkable increase in Meta shares in the current year.
Meta Shares Near Record Highs
Mark Zuckerberg, at the age of 39, currently holds approximately 13% of Meta shares, valued at around $117.7 billion (approximately ₹97.56 lakh crore). According to Forbes, Zuckerberg is the 16th richest person globally. The value of Meta shares is approaching record highs, reflecting the strong performance and market sentiment toward the company.
Facebook’s Inception in 2004
Mark Zuckerberg, while at Harvard in 2004, initiated the founding of Facebook in his dorm room. The original idea was to create a social network that would allow Harvard students to connect online. Though the site quickly gained popularity and expanded to other universities, it now engages more than 2.9 billion daily active users globally.
Mark Zuckerberg has been the CEO of Facebook since its inception. Under his leadership, Facebook has evolved from a small startup into a global social media giant. Despite controversies related to data leaks and fake news on the platform, Zuckerberg’s leadership has played a crucial role in Facebook becoming a prominent force in the social media landscape.
