The Azerbaijan State News Agency

WORLD

Zuckerberg sells first Meta shares in two years after 172% surge

Zuckerberg sells first Meta shares in two years after 172% surge

Baku, December 5, AZERTAC

Mark Zuckerberg is selling Meta Platforms Inc. stock for the first time in two years after the social media giant rapidly rebounded from a tumultuous 2022.

The Meta co-founder’s trust as well as entities for his charitable and political giving unloaded about 682,000 shares worth almost $185 million in November through trading plans, with the latest disclosed Wednesday, according to data compiled by Bloomberg from regulatory filings.

That’s the first time entities that manage Zuckerberg’s fortune have sold shares since November 2021.

Meta surged 172% this year through the end of November, outperforming all major US tech companies other than Nvidia Corp. That’s helping to maximize the proceeds for Zuckerberg’s activities outside Meta, which include venture capital, scientific research and impact investments.

He’s regularly offloaded blocks of Meta stock over the past decade but didn’t sell a single share in 2022, when catastrophic quarterly results led to one of the biggest one-day stock wipeouts and Meta’s worst annual performance since its 2012 initial public offering.

Meta’s stock is now approaching the record highs set in 2021, when Zuckerberg as well as his charitable foundation, the Chan Zuckerberg Initiative, sold more than $1 billion of the Menlo Park, California-based company’s shares. The 39-year-old still holds about 13% of Meta, making up almost all of his $117.7 billion fortune, according to the Bloomberg Billionaires Index.

Zuckerberg and his wife, Priscilla Chan, 38, have previously pledged to allocate 99% of their wealth to philanthropic causes during their lifetimes, such as promoting equality and curing diseases. More than half of the recent Meta stock sales came from shares controlled by their namesake foundation.

The smallest portion of the selling spree – about $19 million — went to the advocacy arm of the Chan Zuckerberg Initiative. The organization has funded efforts to mobilize voters as well as to advance immigration reform.

Earlier this year, the Chan Zuckerberg Initiative pledged $250 million to establish a biomedical research hub in Chicago. It previously backed efforts to address the San Francisco Bay area’s housing shortage and made early-stage investments to train software developers in Africa.

Founded in 2015, the Palo Alto, California-based foundation has net assets of about $6.3 billion and is led by both Zuckerberg and Chan, according to latest filings. Meta’s stock has risen more than 200% since they pledged eight years ago to give away most of their fortune.

Share news on social media

Follow us on social network

American Muslims continue legal fight against FBI terror watchlist

Head of Georgian parliamentary delegation sends letter to PACE President over non-ratification of Azerbaijan’s credentials

Giant new snake species identified in Amazon

Azerbaijani, Croatian foreign ministries hold political consultations

® Kyrgyz specialist in meditation Laura Omuralieva awarded by Millionaire Concept in Baku

Lionel Messi: Inter Miami star donates eighth Ballon d'Or to Barcelona museum

President Ilham Aliyev’s official visit to Türkiye in spotlight of Turkish media

Popularization of shared Turkic culture discussed

The experience of Azerbaijani mine-action specialists would be beneficial for Ukraine, says Ihor Klymenko

From Antonella Bassani, World Bank Vice President for Europe and Central Asia

Germany legend and World Cup winner Andreas Brehme dies aged 63

® Innovations continue in İstəSən tariff package!

Azerbaijan’s Energy Minister participates in discussions organized by Atlantic Council in Washington

World's tallest man, shortest woman meet in US

From Nicolas Maduro, President of the Bolivarian Republic of Venezuela

Airforce Technology: The unveiling of the Akinci drone programme solidifies the country’s position as regional player

More than 6,400 trainee doctors submit resignations as worries over public health mount

EU-Georgia Association Council to discuss Black Sea submarine electricity cable project, Georgian Economy Minister

From Dr. Zuhair Alharthi, Secretary General of the International Dialogue Centre – KAICIID

Tractors roll into downtown Prague as Czech farmers join protests

Guivami Rahimli: The US should support its strategic interests in the region rather than the Armenian diaspora interests

From His Majesty Sultan Ibrahim, King of Malaysia

Schools in England asked to prohibit use of cellphones, impose restrictions

Azerbaijani weightlifter wins three European gold medals

Inter Milan to take on Atletico Madrid in UEFA Champions League

Azerbaijan sends electrical equipment as humanitarian aid to Ukraine

Consensus reached over Afghanistan issue despite Taliban's absense: UN chief

Hungarian parliamentary majority proposes February 26 vote to ratify Sweden’s NATO entry

Kenya’s Nairobi to host Climate and Clean Air Conference 2024

High-Level Roundtable at IEA Headquarters sets agenda for COP28 and COP29 VIDEO

Azerbaijan's Minister of Culture meets Croatian delegation

Azerbaijan, World Bank discuss cooperation in energy sector

From Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar

Japanese satellite made out of timber is set to launch this summer to combat space pollution

Central Bank: $102.6 m worth of demand fully covered at FX auction

President Ilham Aliyev’s official visit to Türkiye in spotlight of Georgian media

Mongolia sees record snow in 49 years

Azerbaijan’s Deputy FM, IEA Executive Director discuss potential cooperation within framework of COP29

Practical classes held at Commando Initial Course, Defense Ministry

Baku Higher Oil School hosts semi-finals of Republican Subject Olympiad in Informatics

Oil prices end mixed in global markets

Special offer from AZAL: discounts on flights to Dubai, Riyadh and New Delhi

bp publishes draft Environmental and Social Impact Assessment document for Project Sunrise

® Azercell is now in Fuzuli!

Azerbaijani taekwondo fighters claim two medals in Tehran

China's domestic tourism market surges during Spring Festival holiday

'Scent therapy' helps unlock memories in people with depression, trial finds

Thousands rail against Mexico’s president and ruling party in ‘march for democracy’

ANAMA clears 886.1 hectares of liberated territories from mines and UXOs over past week

At least 64 killed in tribal fighting in Papua New Guinea's highlands: media

Landslide buries houses in eastern Afghanistan, kills 25

President Ilham Aliyev concluded his official visit to Türkiye VIDEO

Matthew Bryza describes Munich meeting of Azerbaijani and Armenian leaders as positive development

Bucks star Damian Lillard defends his 3-point crown with win over Trae Young

First Ladies of Azerbaijan and Türkiye held meeting in Ankara VIDEO

Azerbaijani and Turkish presidents made press statements VIDEO

From Saja Farooq Abdullah, UNICEF Representative in Azerbaijan

President of Türkiye: The signing of lasting peace between Azerbaijan and Armenia will be a source of hope for tranquility and stability in our region and the world

Azerbaijan, Türkiye signed documents VIDEO

President of Azerbaijan Ilham Aliyev and President of Türkiye Recep Tayyip Erdogan held expanded meeting VIDEO

President Ilham Aliyev: Unification of Turkic world will strengthen each member of Organization of Turkic States

From Sauli Niinistö, President of the Republic of Finland

From Marcelo Robelo de Sousa, President of the Portuguese Republic

President of Azerbaijan: Türkiye is influential on a global scale today

President: There is no place for separatist forces on Azerbaijani territory, and there never will be

President Ilham Aliyev: We have concrete plans with Türkiye regarding joint production in defense industry sector

Azerbaijani President: The anti-terror measures demonstrated that Türkiye`s military model has now been fully integrated in Azerbaijan

From Mariam Khan, UNFPA Representative in Türkiye, Country Director for Azerbaijan and Georgia

President Ilham Aliyev: Türkiye-Azerbaijan unity has become an important factor today

From Baghdad Amreyev, President of the Turkic Investment Fund

Azerbaijan’s Economy Minister: A total of 71.5 mln manats in interest subsidies were disbursed

Azerbaijan Air Defense Units increase professionalism, Defense Ministry

President of Azerbaijan Ilham Aliyev and President of Türkiye Recep Tayyip Erdogan held one-on-one meeting VIDEO

Crew abandons vessel after missile attack off Yemen

Official welcome ceremony was held for President Ilham Aliyev in Ankara VIDEO

Italian Defense Minister congratulates Ilham Aliyev on his re-election as President of Azerbaijan

2 officers, 1 first responder killed at the scene of a domestic call in US state of Minnesota; suspect dead

Baku to host Asian Parliamentary Assembly’s 14th plenary session

From Paul A. Gosar, Member of Congress of the United States House of Representatives

Azerbaijani MMA fighters notch victory in Octagon 55

'Oppenheimer' triumphs at BAFTA Film Awards with most wins

Bayern Munich's German Bundesliga title bid hit after loss at Bochum

® Civil society institutions in Türkiye host colleagues of Red Hearts Foundation

UNESCO releases world heritage calendar

A training course for tank and combat vehicle crews underway in Azerbaijani Army

Azerbaijan, U.S. to discuss prospects for energy cooperation

Azerbaijani Para taekwondo fighters to vie for medals in Iran

All necessary conditions created for effective organization of leisure for military personnel, Defense Ministry

President Ilham Aliyev visited monument to Great Leader Heydar Aliyev in Ankara VIDEO

President Ilham Aliyev visited Anitkabir in Ankara VIDEO

International Turkic Academy has meeting with Uzbekistan's Academy of Sciences

Azerbaijan`s Foreign Ministry: Allegations made by Nikol Pashinyan misleading international community are regrettable

Lassa fever kills 10 in Nigeria

Global oil markets experience price decline

Azerbaijani freestyle wrestlers take four more European bronzes in Bucharest

Monza 4-2 AC Milan: 10-man Rossoneri beaten after dramatic finale

® “Baku Steel Company” CJSC receives international ISO certificate in the field of health and labor safety

Rocket Lab launches ADRAS-J space junk inspection satellite for Astroscale

Military Oath-taking ceremony for young soldiers was held in Azerbaijani Combined Arms Army

At least 53 men massacred in Papua New Guinea tribal violence, police tell Australian media