Mark Zuckerberg has started selling Meta Platforms Inc. (META) shares for the first time in two years.
This move comes as Meta’s stock has significantly recovered from its challenging 2022, experiencing a 172% surge this year.
The sale involves approximately 682,000 shares, valued at nearly $185 million, executed through prearranged trading plans.
As reported by Bloomberg from regulatory filings, this sale is the first since November 2021, marking a strategic shift in Zuckerberg’s investment approach.
Meta’s remarkable stock performance outpaces most major U.S. tech companies, second only to Nvidia Corp. (NVDA).
This uptrend benefits Zuckerberg’s broader portfolio, including his venture capital and scientific research ventures.
Historically, Zuckerberg has been consistently divesting Meta shares over the past decade.
However, he refrained from selling any shares in 2022, a year when Meta faced its worst annual performance since its initial public offering in 2012.
With Meta’s shares nearing their record highs of 2021, this sale aligns with the improved market valuation.
Zuckerberg and his wife, Priscilla Chan, are known for their philanthropic commitments.
They have pledged to donate 99% of their wealth to causes like equality and disease cure.
The Chan Zuckerberg Initiative, their foundation, accounted for over half of the recent Meta stock sales.
The couple’s foundation has been actively funding various initiatives. A recent pledge includes $250 million for a biomedical research center in Chicago.
The foundation has also tackled housing shortages in the San Francisco Bay Area and supported software development training in Africa.
Founded in 2015, the Chan Zuckerberg Initiative, co-directed by Zuckerberg and Chan, manages assets worth about $6.3 billion.
Since their philanthropic pledge eight years ago, Meta’s shares have soared over 200%, reflecting the success of their business and charitable endeavors.