- Mark Zuckerberg offloaded Meta stock worth $428 million in November and December, per a regulatory filing.
- It's the first time in more than two years that he's sold shares in the social-media giant.
Meta Platforms CEO Mark Zuckerberg sold shares worth more than $400 million in the last two months of 2023.
The Facebook founder started offloading stock on November 1 and made a sale every day between then and the end of the year, per a regulatory filing issued Tuesday.
In total, Zuckerberg sold 1.28 million shares for about $428 million.
It's the first time since November 2021 that the world's seventh-richest person has trimmed his position in the social-media giant.
Meta is coming off a banner year where its stock soared 194% as Zuckerberg pressed ahead with its "Year of Efficiency" cost cuts and the AI craze encouraged investors to pile into mega-cap Big Tech stocks.
It was the second best-performing S&P 500 stock last year, trailing only Nvidia, with shares now at $344 – just 10% below the record high hit in September 2021.
Zuckerberg still owns about 13% of Meta, with his stake valued at just under $116 billion as of Wednesday's closing bell, by Business Insider's calculations.
His personal fortune ballooned by $80 billion to $128 billion last year thanks to Meta's surging share price, according to the Bloomberg Billionaires Index.