Mark Zuckerberg sells shares worth $428 million in “Meta”

John Doa
John Doa

Food Blogger

Last updated on February 23, 2024, At 04:29 AM ET

Posted on February 23, 2024, At 04:29 AM ET

According to a Bloomberg report, the CEO of Meta, which operates Facebook, sold shares worth $500 million over the course of two months.

According to the news agency, Mark Zuckerberg sold about 1.28 million shares worth $428 million during the period from November to December 2023. This sale is the first of its kind after a two-year hiatus.

According to reports, the average value of each sale made by Mark Zuckerberg was approximately $10.4 million. The largest sale recorded was on December 28, at $17.1 million.

It is noteworthy that since November 2021, Mark Zuckerberg has not sold any shares in “Meta” until these sales began.

In the past year, Meta shares have risen 194% from their lowest level in seven years, which was recorded near the end of 2022. The performance of Meta shares has exceeded the performance of shares of most major technology giants, with the exception of Nvidia. .

Mark Zuckerberg, who is 39 years old, owns about 13% of Meta. His net worth is estimated at approximately $125 billion, which places him seventh on the list of the richest people in the world according to the Bloomberg Billionaires Index.

It is noteworthy that Meta Platforms, the parent company of famous platforms such as Facebook, Instagram, and WhatsApp, is a symbol of the rapid development in the world of technology. Founded in 2004 as “Facebook,” the company has witnessed a major shift in its identity and scope of work, focusing largely on developing the “metaverse.”

Meta represents the vision of the digital future, as it seeks to create a “metaverse” – a connected digital world that combines virtual and augmented reality. This includes developing Oculus VR virtual reality headsets and 3D applications that allow users an immersive interactive experience.

The company invests heavily in research and development, especially in the areas of artificial intelligence and new communication technologies. This investment could play a vital role in shaping the future of technology.

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