Mark Zuckerberg Has Sold Facebook Stock Almost Every Weekday This Year

two antitrust lawsuits filed by the Federal Trade Commission against the tech giant on June 28, shares in the Menlo Park, California firm closed at a record high of $355.64. Facebook stock has since continued to trade at similar levels; its current share price is up more than 800% compared to when it went public nine years ago, when Zuckerberg$16.9 billion. In particular, the stock has been on a tear since March 2020, more than doubling in value over the past 17 months.

The vast majority of Zuckerberg’s Facebook share sales—an estimated $11 billion—have been made by the Chan Zuckerberg Initiative, primarily through CZI Holdings, a limited liability company, or CZI Foundation, the initiative’s nonprofit grantmaking arm. CZI has awarded $2.9 billion in grants and invested $150 million into for-profit ventures since 2015, according to its website. In 2016, Priscilla Chanthat CZI would spend $3 billion over a decade in an attempt to cure all diseases.

Late last year, Chan Zuckerberg Initiative Advocacy—CZI’s political advocacy arm—sold all 103,000 of the remaining Facebook shares it held. According to data from the Center for Responsive Politics, CZI Advocacy has contributed $17.8 million to left-leaning ballot initiatives, mostly in California, since 2018.

Zuckerberg’s stock sales over time are common among founders who took their companies public, and similar to those of his fellow tech moguls. Amazon founder Jeff Bezos decreased his stake to 24% from 42% in the first nine years after IPO—selling about $500 million worth of shares—while Google founders Larry Page and Sergey Brin trimmed their stakes to about 7% from 16% in the same amount of time.

Relatively speaking, though, Zuckerberg has sold far less Facebook stock than Bezos has sold of Amazon in total. Since Amazon went public in 1997,. Of that amount he sold $10 billion last year. That makes Zuckerberg’s $2 billion worth of sales look paltry. Today, Bezos’ Amazon stake stands at 10% after he notably relinquished a quarter of his then 16% stake in 2019 to ex-wife MacKenzie Scott as part of the most expensive divorce in history.

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