Mark Zuckerberg selling his Facebook stock nearly every business day

Facebook CEO Mark Zuckerberg is selling his stock very fast and since November 9 2020 he has unloaded shares almost every business day which amounts to 94 million shares worth USD 28 billion the media reportedAccording to a Forbes report citing filings with the US Securities and Exchange Commission SEC about 90 per cent of the sales were made by his philanthropic organisation the Chan Zuckerberg Initiative CZIZuckerberg who is the worlds fifth richest person with nearly USD 127 billion worth has now winnowed his stake in Facebook to about 1437 down from 2837 at the time of the companys IPO the report mentionedThe 37yearold media magnate and Internet entrepreneur has taken home around USD 21 billion from the sales after taxesAlso read Facebook to update its policies on handling satirical contentSince Facebook went public in May 2012 Forbes estimated that he sold more than 132 million Facebook shares worth nearly USD 15 billionZuckerberg began regularly selling his Facebook stock in 2016 after he and his wife wrote a letter to their daughter Maxima pledging to give 99 per cent of their stocks over their lifetimes toward education and curing diseasesIn 2018 the Facebook CEO sold USD 53 billion worth of shares mostly through CZIAs of 2018 Zuckerberg and Chan had donated nearly USD 2 billion worth of Facebook shares to the Silicon Valley Community Foundation SVCFFacebook shares are up more than 800 per cent compared to when it went public nine years agoNot only Zuckerberg Amazon founder Jeff Bezos has also lowered his stake to 24 per cent from 42 per cent in the first nine years after IPOBezos 57 has sold almost USD 27 billion in Amazon shares before taxes offloading about USD 10 billion in shares just last yearBezos who stepped down as Amazons CEO in June also gave his exwife MacKenzie Scott a quarter of his stake in the company during their divorce His stake in Amazon now stands at only 10 per centAccording to the report about 98 per cent of Zuckerbergs estimated worth is still held in Facebook stockGoogle founders Larry Page and Sergey Brin trimmed their stakes to about 7 per cent from 16 per cent in the same amount of time the report mentionedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever