Mark Zuckerberg selling his Facebook stock nearly every business day; narrows stake in company to 14%

San Francisco: 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 9.4 million shares worth $2.8 billion, the media reported.

According 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 (CZI).

“Zuckerberg, who is the world’s fifth richest person with nearly $127 billion worth, has now winnowed his stake in Facebook to about 14%, down from 28% at the time of the company’s IPO,” the report mentioned.