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.
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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.
