As another step towards his goal of donating 99% of his Facebook stake to improve the world within his lifetime, the CEO of Facebook has sold another $95 million in Facebook stock within the past week.
According to regulatory filings, the $95 million worth of shares were sold between 17th and 18th of November through Chan Zuckerberg Foundation and CZI Holdings LLC, the two entities that Zuckerberg and his wife Priscilla Chan created in December 2015 to donate for “philanthropic, public advocacy, and other activities for the public good”.
This figure is an addition to the stock sold in September and October which was worth $380 million and according to regulatory filings Zuckerberg says he will not trade more than $1 billion in Facebook stock per year through 2018. Some of the funds will go into for profit companies that fit with the couple’s goals. Last September, Zuckerberg said “If we can develop new tools, we can empower scientists all around the world to make much faster progress and breakthroughs,” when his wife and he pledged to spend $3 billion over the next decade to fight disease.
Last year the Zuckerberg’s net worth was about $45 billion and FORBES estimates it to be at $52 billion following this year’s sales in Facebook stock. His net worth has increased over the past year despite increase in Facebook’s stock price. According to latest FORBES estimates, Mark Zuckerberg is currently the 4th richest person in the world.
Contributing Writer: Ahmed Siraj