Stock Market

Mark Zuckerberg sells Meta’s shares for over $190 million

Meta Founder and CEO Mark Zuckerberg sold roughly $190 million in the company’s equity, the media reported.

San Francisco: According to media reports, Meta’s founder and CEO, Mark Zuckerberg, sold the company’s stock for almost $190 million last month.

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Market Watch claims that Zuckerberg sold 560,180 Meta shares last month, one share every day.

Form 4 filings with the US Securities and Exchange Commission (SEC) show that on November 29, he made orders to sell an additional 28,009 shares.

The article stated that the value of the shares sold would be $192.9 million with the stock ending at $327.15.

The majority of the shares that were sold were purchased as part of a “founder stock purchase” in 2004.

According to the study, about 150,000 of the shares that were sold were obtained for $0 on the days that they were sold through the exercise of options that were purchased in 2013.

In its third quarter, Meta brought in $34 billion in sales, a 23 percent increase over the same period the previous year.

In the September quarter, total costs and expenses came to $20.40 billion, a 7% decrease over the same period the previous year. For the quarter, net income reached $11.58 billion, up 164% from the same period last year.Nonetheless, the business is still losing money on its Reality Labs subsidiary, and Meta anticipates a “meaningful” yearly growth in operating losses there. Nearly $25 billion has been lost by Meta’s AR-VR segment since the beginning of the year.

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