Mark Zuckerberg has been on a selling spree in August and has unloaded $526 million worth of stock this year.
Prior to this month, the Facebook co-founder and CEO hadn't sold shares since April. He's now sold 2.9 million shares this year worth more than $526 million. Zuckerberg still owns over 375 million Facebook shares with a current value of over $68 billion, making him theZuckerberg, 35, regularly sells parts of his Facebook fortune to fund the
, the philanthropic organization he runs with his wife, Priscilla Chan. CZI funds programs in science and education as well as social issues focused on criminal justice reform, housing affordability and immigration reform.are part of a 10b5-1 plan, a rule established by the Securities and Exchange Commission that allows public company insiders to sell a predetermined amount of stock at set periods of time.
While his selling activity picked up in August, he's still well off the pace from last year, when Zuckerberg sold nearly 28.9 million shares for more than $5.3 billion. In late 2017, Zuckerberg said he planned to sell up to 75 million shares, worth more than $12 billion at the time, by March of this year.
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