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 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. Facebook’s stock price at the time of writing is $287.52.
As Facebook’s top shareholder, Zuckerberg’s wealth is tied to its stock
To us, a quarter of a billion dollars in one month is life-changing. But to Facebook’s boy-wonder, it’s just the tip of the… Zuckerberg. 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%. Zuckerberg has sold $12.72 billion worth of Facebook stock in those eight years, with his whopping $2.3 billion sale in December 2013 still his largest to date. Facebook’s share price doubled that year. At the time, Reuters noted Zuck needed all that cash to pay a hefty tax bill. I’m now taking bets via Twitter as to what Zuck will spend his cash on this time.
