Mark Zuckerberg, co-founder of Meta Platforms Inc., sold around $428 million of the company’s shares in the final two months of 2023, Bloomberg reported on Thursday.
This comes after a two-year hiatus during which Meta’s stock price dropped to its lowest value in seven years.
The Meta chief executive sold around 1.28 million shares since the first of November, according to a Tuesday regulatory filing.
According to the report, each sale took in $10.4 million on average, with the highest value on December 28 with a value of $17.1 million.
Since November 2021 to November 2023, Zuckerberg had not sold any Meta shares.
The company’s share price bounced 194 per cent last year, going up from a seven-year low near the end of 2022.
Meta shares also outperformed those of all the other major tech giants except for Nvidia Corp.
