Mark Zuckerberg sold Meta shares worth $428M to close out 2023: filing
NY Post
Meta boss Mark Zuckerberg pocketed nearly half a billion dollars after selling his company’s shares nearly every day during the last two months of 2023 — a move that coincided with a massive rebound in the Facebook and Instagram parent’s stock price.
The Facebook founder sold a total of nearly 1.28 million shares to secure a $428 million windfall amid Meta’s 194% spike last year, according to regulatory filings this week.
It was the first time that Zuckerberg sold stock since November 2021, according to Bloomberg, which first reported on the moves.
Even after the sales, Zuckerberg still owns about 13% of Meta shares, the outlet said. His personal fortune is estimated to be $125 billion, placing him seventh on Bloomberg’s Billionaires Index.
The IRS will take a significant chunk of Zuckerberg’s proceeds. The billionaire’s stock sales are subject to the federal capital gains tax of approximately 24%, as well as an additional 13.3% state tax in California, where Zuckerberg maintains a $37 million estate.
Meta shares slumped to a seven-year low in 2022 as Zuckerberg spent billions on a widely panned shift toward the metaverse.
