Facebook’s chief executive officer Mark Zuckerberg has sold nearly $280 million worth of company stock in the past month, which was his first sales of the year. Zuckerberg began offloading shares on November 9, and he’s now generating nearly $12.10 million every day on average by selling his Facebook stock.
The sales come at the tail end of a comparatively average year for the Facebook stock. The social media giant’s share price has risen 37% in 2020, while the tech-heavy NASDAQ 100 index jumped 40%.
Zuckerberg netted between $267 and $287 per share, with all sales made according to pre-set trading plans lodged with the US Securities and Exchange Commission.
Most of Zuckerberg’s wealth is tied to his share on Facebook, making him the fourth richest person on the planet with a net worth of $109 billion. According to Bloomberg, he falls behind only Bill Gates, Elon Musk, and Jeff Bezos on the list, with the latter two also significantly increasing their fortunes in 2020.
In total, Zuckerberg has sold $12.72 billion worth of shares on Facebook since taking the social media platform public. He routinely sells stock in the company each year to pay for expenses or acquire property such as his private island in Hawaii. His biggest sale of stock came in 2013 when he sold $2.3 billion worth of shares in his company to pay for taxes, making this year’s sale pale in comparison and Facebook’s share price doubled that year.
Business Insider estimated Zuckerberg has grown his net worth by $9 billion per year since the company went public in 2012, during which time Facebook stock has returned over 580%.
Source: Techjuice
Image source: Marketing Land
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