Mark Zuckerberg Liquidates $190 Million of Meta Stock in November

In a notable financial move, Mark Zuckerberg, the CEO and cofounder of Meta Platforms, sold approximately $190 million of the company's stock in November. This transaction was revealed through filings with the Securities and Exchange Commission (SEC) and represents Zuckerberg's first stock sale in the last two years.

Zuckerberg's Recent Stock Sale

The transaction was executed via pre-scheduled trading plans established earlier in the summer by the trust and entities Zuckerberg utilizes for philanthropic and political donations. Collectively, these entities offloaded over half a million shares of Meta Platforms stock. It's a significant shift for Zuckerberg, who has not engaged in stock disposals since 2021.

Meta's Stock Performance

Following a tough 2022 where the stock saw considerable losses, Meta's share price has dramatically surged. This year alone, the shares experienced a 166% rally, effectively nullifying the previous year's decline. This robust performance vastly surpasses the Nasdaq Composite's gain of 36% and has played a key role in reinstating Zuckerberg among the top 10 wealthiest individuals, according to the Bloomberg Billionaires Index, with an estimated personal fortune of $116 billion.

The rejuvenation in Meta's stock can be attributed to a tech stock boom, heavily influenced by the growing enthusiasm for artificial intelligence. Meta, which is the parent company to platforms like Facebook, Instagram, and WhatsApp, is part of an elite group of companies that have significantly contributed to the S&P 500's gains this year.

Philanthropic Pledges and Other Tech CEOs' Stock Transactions

Known for their philanthropic efforts, Zuckerberg and his wife, Priscilla Chan, have made a commitment to donate 99% of their Meta stock to charitable causes over their lifetimes. The Giving Pledge, which was initiated by Warren Buffett and Bill Gates, saw Zuckerberg's signature back in 2010, affirming his dedication to philanthropy.

Interestingly, Zuckerberg's stock sale is not an isolated event in the tech industry. This year has recorded several significant transactions by tech CEOs. Apple CEO, Tim Cook, sold 13% of his stake for about $42 million after taxes, and Amazon founder, Jeff Bezos, made headlines with his first share purchase in over 20 years.

Zuckerberg, Meta, StockSale