Mark Zuckerberg is strategically selling Meta Platforms Inc. stock for the first time in two years, capitalizing on the social media giant’s remarkable 172% surge this year. The move aims to maximize proceeds for Zuckerberg’s diverse activities outside Meta, encompassing venture capital, scientific research, and impact investments.
Mark Zuckerberg Seizes Opportunity: Meta Platforms Stock Sell-Off After 172% Surge
After a tumultuous 2022, Meta Platforms Inc. rebounded impressively, prompting the Meta co-founder to take action. In November, entities associated with Zuckerberg’s charitable and political endeavors sold about 682,000 shares, totaling nearly $185 million. This marks the first instance of entities managing Zuckerberg’s fortune selling shares since November 2021.
Strategic Move: Zuckerberg’s Entities Sell Meta Stock After 2022 Rebound
Meta’s stellar 172% surge in 2023, outperforming major US tech companies, including Nvidia Corp., has fueled Zuckerberg’s decision. The sale aligns with his commitment to channel funds into ventures beyond Meta, such as venture capital, scientific research, and impact investments.
Despite regularly offloading Meta stock over the past decade, Zuckerberg refrained from selling any shares in 2022. Meta’s stock, approaching record highs set in 2021, now stands as one of Zuckerberg’s significant assets, constituting almost all of his $117.7 billion fortune.
Record Surge: Meta Stock Approaches 2021 Highs in Zuckerberg’s Portfolio
Zuckerberg and his wife, Priscilla Chan, remain committed to philanthropy, pledging 99% of their wealth to causes promoting equality and curing diseases. Recent Meta stock sales, including more than half by their namesake foundation, contribute to these philanthropic efforts.
Philanthropic Commitment: Zuckerberg’s Meta Stock Sales Support Causes”
The Chan Zuckerberg Initiative’s advocacy arm received a portion of the sale, directing funds toward efforts to mobilize voters and advance immigration reform. The foundation, with net assets of about $6.3 billion, has been instrumental in supporting various initiatives, from addressing housing shortages to investing in software development training.
Impactful Giving: Chan Zuckerberg Initiative Benefits from Meta Stock Sale”
As Meta’s stock has risen over 200% since Zuckerberg and Chan’s pledge eight years ago to give away most of their fortune, this recent strategic move signifies a continuation of their commitment to impactful philanthropy.
