Mark Zuckerberg sold shares worth half a billion dollars of Meta, sale made in the last two months of 2023

Mark Zuckerberg sold nearly half a billion dollars worth of Meta Platforms shares in the last two months of 2023 after two years, during which the company's share price fell to its lowest in seven years. Meta's chief executive sold shares every trading day between Nov. 1 and year-end, selling about 1.28 million shares for about $428 million, according to a filing to the stock exchange on Tuesday.

On average, $10.4 million worth of shares were sold in each sale, with a peak of $17.1 million on December 28. Earlier, Zuckerberg had not sold Meta shares since November 2021. The company's share price surged 194% last year from a seven-year low at the end of 2022. Meta shares outperformed every other major tech giant except Nvidia Corp last year and are now close to the September 2021 record high.

Zuckerberg, 39, owns about 13% of Meta's shares and has a net worth of about $125 billion, making him the seventh richest person in the world, according to the Bloomberg Billionaires Index. The company did not respond to a request for comment on Zuckerberg's sale of Meta shares. Zuckerberg's tech counterpart Marc Benioff also sold shares almost every day in the second half of 2023. The Salesforce co-founder sold shares worth more than $475 million during the period. During this period, approximately 15,000 shares were sold every day, worth approximately $3 million.