META– The Meta platforms’ CEO Mark Zuckerberg has sold $2 billion worth in stock transactions this year leveraging on the brilliant stock performance set by the Company in 2024.
The sales were done under a Rule 10b5-1 trading plan set up in August, which enables Zuckerberg to sell a mix of Class A and Class B shares. However, because a Class B share carries a super-voting power of 10 votes per share whereas a Class A share carries only one vote, Zuckerberg still retains control of the company.
Its stock has risen by more than 70% year-to-date, to $632.68 in December, putting the company’s market capitalization at $1.5 trillion. The company continued to impress following a 35% increase in third-quarter earnings and 19% revenue growth, amounting to $40.59 billion, above projections.
Apart from economic prosperity, much is being done by Meta through technology. Just recently, it introduced artificial intelligence-enabled productivity tools known as “Metamate.” It also recently invested in its hardware business which includes the work on augmented reality glasses and better Ray-Ban Meta smart glasses. Early in 2025, it has plans to start monetizing Threads further as evidence of the move to diversify revenue streams.
It further invests in these developments by committing to spend $10 billion for a new data center in Louisiana to power burgeoning AI projects.
In addition to this, this year, Zuckerberg announced Meta’s first dividend ever in its history. It is the first time the corporation has announced a dividend. Even as he surrenders some of his shares, Zuckerberg’s control over it is still intact as he leads it through its transition into an AI and technology giant.
Meta closed at $591.22 on December 31 as the tech giant finished a strong year ahead in a year of strategic transformation.
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