Mark Zuckerberg Sold $285 Million In Facebook Stock In Past Month For Charity

Mark Zuckerberg has sold $285 million in Facebook FB +0.41% stock over the past month, making headway on his pledge to give 99% of his wealth to charity. 

In the latest transaction, the social network’s CEO shed $95 million in stock on Sept. 9 and Sept. 12, according to aregulatory filing.

The sale will add an estimated $85 million, after capital gains taxes, to the coffers of the Chan Zuckerberg Foundation and CZI Holdings LLC, two entities that Zuckerberg and his wife established last year for philanthropy and impact investing. CZI Holdings must pay the taxes because it is a limited liability company rather than a charitable foundation.
Mark Zuckerberg Sold $285 Million In Facebook Stock In Past Month For Charity
The couple announced their plans to give 99% of their Facebook shares to social causes in a Facebook post in December. At the time, their stock holdings were worth $45 billion.
Zuckerberg is likely to continue reducing his Facebook stake. He plans to sell or give away up to $1 billion in stock each year through 2018, according to the regulatory filing.

FORBES estimates Zuckerberg’s current net worth is $54.9 billion, making him the fifth richest person in the world, according to Forbes Real Time Rankings.

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