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Published: January 3, 2024 at 8:29 PM ET
Mark Zuckerberg cashed in on his company’s stock price rally in 2023, selling about $428 million worth of Meta Platforms stock in the last two months of the year.
META’s co-founder and chief executive officer traded just under 1.8 million shares on every trading day between Nov. 1 and the end of last year, according to a regulatory filing Tuesday with the U.S. Securities and Exchange Commission. Sold.
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Mark Zuckerberg cashed in on his company’s stock price rally in 2023, selling about $428 million worth of Meta Platforms stock in the last two months of the year.
Meta
meta
The co-founder and chief executive officer sold just under 1.8 million shares on every trading day between Nov. 1 and the end of last year, according to a regulatory filing Tuesday with the U.S. Securities and Exchange Commission.
The sale was in line with Zuckerberg’s Rule 10b5-1 trading plan, which he adopted in July to take advantage of a rebound in Meta’s stock price. The stock price soared 194.1% in 2023, nearly tripling since hitting a seven-year low in November 2022. By comparison, the S&P 500 SPX and Nasdaq Composite COMP index rose 24.2% and 43.4%, respectively, in 2023.
The move also breaks a two-year hiatus from November 2021 in which Zuckerberg did not sell any shares in Facebook’s parent company, according to Bloomberg, which first reported the news. Zuckerberg, who owns about 13% of Meta, ranks as the seventh richest person in the world with a net worth of $125 billion, according to the Bloomberg Billionaires Index.
Nasdaq-listed Meta stock, which fell 0.5% on Wednesday to $344.47, is down about 11% from its all-time closing price of $382.18 as of September 2021.
Representatives for Meta were not immediately available for comment.
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