Meta Platforms (Nasdaq: META) CEO Mark Zuckerberg has not stopped unloading shares of the social media giant. In the last week alone, he has sold about $195 million worth of stock at an average of around $497.53 per share.
Zuck has sold about 418,129 shares of the company since February for a whopping $1,187,958,324. As founder and CEO, he still owns over 300 million shares worth about $150 billion based on the same $497.53 average price per share.
These huge sell-offs from CEOs and founders like Zuck and Amazon’s (Nasdaq: AMZN) Jeff Bezos come as markets reach new highs. The Nasdaq, where Meta and Amazon are listed, recently set a new record, and the S&P 500 just set its best first-quarter performance in five years.
Meta stock is also enjoying good momentum, rising from its metaverse downturn, and shares are up 136.46% year over year. On top of this, Zuckerberg and his peers might also be taking advantage of the time before the markets get shaky again leading to the national elections.
Related: Reddit CEO Has Already Sold Nearly Half His Shares Less Than A Week Into IPO Debut
And speaking of the markets getting shaky and the national elections, they could also be out building their bunkers for the end of the days — because why not?
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
