Mark Zuckerberg Sells Facebook Shares Worth $296 million In August

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Facebook CEO Mark Zuckerberg, has in the past few days dumped a huge portion of 1.6 million Facebook shares so far this month, at a value of $296 million. 

According to a report on CNBC, the Tech CEO experienced a halt in shares sales since April, but in the past 23 days, he and his brand have experienced a skyrocket in shares buying, which have accounted to over millions of units sold already.

However, while this might look like a share sales boom, the CEO and his brand are currently below their shares revenue target when he unloaded 28.9 million for more than $5.3 billion, which he sold last year.

All of which are pressure born out of his post in 2017, stating that he would be selling between 35 and 75 million shares over an 18-month period for this purpose. Facebook’s shares stood at about $170.

The downside to the plan came just after the first whistle was blown about user privacy issues and the many scandals the brand has had to face in the past 12 months, which has made a lot of people really skeptical about their association with the brand the offerings it has to the general public.

But as at yesterday, it looks a lot positive for the brand as it appears that it has taken a good step towards recovery trading at $182.04 at the close of the day’s stock market.

 

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