Zuckerberg Sold Nearly Half a Billion Dollars of Meta Stock In Last Two Months - BNN Bloomberg (2024)

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Zuckerberg Sold Nearly Half a Billion Dollars of Meta Stock In Last Two Months - BNN Bloomberg? ›

Zuckerberg Sold Nearly Half a Billion Dollars of Meta Stock In Last Two Months. Mark Zuckerberg sold nearly half a billion dollars of Meta Platforms Inc. shares in the final two months of 2023 after a two-year hiatus in which the company's stock price hit its lowest in seven years.

Zuckerberg sold nearly $428 million worth of Meta Platforms, Inc. shares at the end of 2023, according to Market Watch, which referenced a regulatory filing with the U.S. Securities and Exchange Commission.

This isn't the first time that Meta stock has fallen dramatically on the back of revenue worries and plans to spend big on a hot tech trend. In October 2022, when the stock plunged 25% following weaker revenue and aggressive spending projects focused on the metaverse and virtual reality.

Zuckerberg, who owns 13% stake in Meta, is now set to see his net worth boom even further in the coming days, on the back of a surge in shares in the social media company he first set up in 2004 when he was a student at Harvard University, MarketWatch reported.

"Billionaire CEOs like [Jeff] Bezos, [Mark] Zuckerberg, Jamie Dimon, and the Walton family are selling off massive amounts of their own stocks, and analysts think the CEOS may be bracing for an economic downturn," he said, adding, “An overheated stock market continues to climb to new heights as investors feed that ...

Zuckerberg primarily sells Meta shares to fund philanthropic initiatives, according to company spokesperson. He has pledged to give away 99% of his stake to charitable purposes. Marc Benioff, Zuckerberg's peer in the tech world, also sold shares nearly every day in the second half of 2023.

The IBD Stock Checkup tool shows Meta stock with a Relative Strength Rating of 91 out of a best-possible 99, indicating the stock has still outperformed most of the market over the past 12 months. Meta stock also holds a IBD Composite Rating of 95 from a best-possible 99.

As per our technical analysis based current META stock forecast, the value of Meta shares will go up by 6.06% and reach around $ 535.35 per share by the end of December 2024.

Mark Zuckerberg (mostly) owns Facebook. He founded Facebook and is now the CEO of its parent company, Meta. Besides Facebook, Meta's products include WhatsApp, Instagram, Threads, and the Horizon metaverse.

What percentage does Jeff Bezos own of Amazon? ›

Net Worth Summary

Bezos owns about 9% of Amazon, the world's largest online retailer, according to a February 2024 form 4 filing. He also owns space exploration company Blue Origin, which is included at Bloomberg's calculation of investment cost.

Key Takeaways. Institutional investors are the majority owners of Microsoft, accounting for almost 70% of outstanding shares. Former CEO Steve Ballmer owns a 4% stake in Microsoft, more than its founder Bill Gates, who holds a 1.3% stake. Vanguard and Blackrock are the two largest Microsoft's institutional investors.

In 2010, he said that he was going to give most of his money to charity. In 2010, he was also named Time's Person of the Year. He was raised Jewish, was an atheist, but thinks different about religion nowadays. In a public Facebook post, Zuckerberg launched the Internet.org project in late August 2013.

The Oracle of Omaha

93-year-old Warren Buffett heads the list. The chairman and CEO of Berkshire Hathaway has a net worth of $128.7 billion. Buffett's Berkshire Hathaway portfolio is 62% invested in only three stocks: Apple (42.9%), Bank of America (10.2%) and American Express (9.1%).

The Great Cashout—Jeff Bezos, Leon Black, Jamie Dimon, and the Walton family have now sold a combined $11 billion in company stock this month— some for the first time ever. High-profile CEOs, founders, and heirs are selling stock by the bucketload in the companies that made them billionaires.

168.4 billion USD (2024)

Mark Zuckerberg / Net worth

Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash.

Zuckerberg announced a $50 billion share buyback alongside the earnings report. Massive buybacks are a tenet of Apple's approach to corporate finance: It's returned close to $400 billion to shareholders through such repurchases over the past five years. Meta has bought back $124 billion in the same period.

Meta Platforms gross profit for the twelve months ending March 31, 2024 was $116.221B, a 26.34% increase year-over-year. Meta Platforms annual gross profit for 2023 was $108.943B, a 19.25% increase from 2022. Meta Platforms annual gross profit for 2022 was $91.36B, a 4.11% decline from 2021.