Friday, July 1, 2022

Mark Zuckerberg sold Facebook shares worth $ 296 million this month


Mehboob Ali Shaikh
Mehboob Ali Shaikh is the Bureau Chief of World News Observer. Based in Canada, working with Toronto 360 TV. Mehboob has accomplished Years of experience in print and broadcast media. He is an active participant in Social media strategies, including Facebook, Twitter and Skype.

Facebook CEO Mark Zuckerberg sold around 1.6 million Facebook shares worth about $ 296 million this month, the first time Zuckerberg has sold share since April, according to a CNBC report. He has not sold any shares since April before the August sales explosion. In total this year, Zuckerberg sold 2.9 million shares, valued at $ 526 million.

According to the businessinsider, although the stock dump may sound dramatic, Zuckerberg is still well below the total he sold last year, when he sold $ 28.9 million for more than $ 5.3 billion.

Zuckerberg has said in the past that he was giving up Facebook share to pay for his charity efforts to his wife Priscilla Chan.In September 2017, he announced on a Facebook site that he expected to sell between 35 and 75 million shares in an 18-month period for this purpose. Facebook was around $ 170 at the time, making its target between $ 6 billion and $ 13 billion.

Read also: Where does Mark Zuckerberg spend his fortune?

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