CEO Mark Zuckerberg sold his share of Meta stocks for the first time in two years. The majority of the shares sold were acquired in 2004 through a founder stock purchase. Additionally, about 150,000 shares were acquired for $0 through exercising options acquired in 2013. Despite catastrophic quarterly results, Zuckerberg did not sell any shares in 2022. In 2021, he and his charitable foundation, the Chan Zuckerberg Initiative, sold over $1 billion worth of shares. The recent Meta stock sales came from shares controlled by the Chan Zuckerberg Initiative, including stocks worth $19 million that went to its advocacy arm. The Q3 2023 revenue of Meta was $34 billion, with costs and expenses at $20.4 billion. However, Meta’s Reality Labs division is still burning cash, and the AR-VR division has lost nearly $25B since last year.
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