Mark Zuckerberg halts his pre-planned sale of billions of dollars worth of Facebook shares

Mail Online | 1/3/2019 | Stephanie Haney For
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Facebook CEO Mark Zuckerberg has stopped selling shares of the company after a nosedive in stock prices in the fourth quarter of 2018.

Zuckerberg had sold $5.6 billion of his stake in the social networking site since Q4 of 2017, after a pledge to do so to fund his charitable endeavors.

Technology - Ways - Share - Months - Year

But that stopped abruptly, with the technology entrepreneur not parting ways with a single share in the final months of the year, as shares dipped by 20 percent amid a market slump, in general, Bloomberg reported on Thursday.

Facebook shares have dropped a total of 39 percent to date from their record high of $218.62 on July 25, with stock prices at $132.80 at around 12.30pm Eastern on Thursday.

Decline - Menlo - Park - Company - Trading

The marked decline in the Menlo Park, California-based company's trading price came as the social media platform faced backlash over its user data policies as well as its moderating practices.

Though the effects of the public's displeasure was felt immediately, Zuckerberg has said those concerns will likely take years to address.

Wallet - Scandal - Zuckerberg - Worth - Market

His own wallet was also hit in the scandal, with Zuckerberg's net worth declining by $32.7 billion as of market closing time on Wednesday.

That reality has bumped him to seventh on the Bloomberg Billionaires index, which lists the world's wealthiest individuals.

Spot - Zuckerberg - Wife - Priscilla - Chan

Still, seventh is a pretty nice spot to be in as Zuckerberg, 34, and his wife, Priscilla Chan, 33, aim to make good on a promise they made in December 2015, shortly after their first daughter was born.

In an open letter to their daughter on Facebook, published on December 1, 2015, Zuckerberg wrote:

Generation - Chan - Zuckerberg - Family - Chan

'As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg...
(Excerpt) Read more at: Mail Online
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