Leveraging the company’s outstanding stock performance, Meta Platforms (META, Financials) CEO Mark Zuckerberg has sold approximately $2 billion worth of Meta shares in 2024, thereby funding personal activities and diversifying his investment portfolio. As Meta makes major strategic changes to improve its technical capacity and investigate new income sources, the sales follow.

• Warning! GuruFocus has detected 5 Warning Sign with META.

Based on a Rule 10b5-1 trading strategy taken in August, Zuckerberg’s stock transactions match those of up to 5.6 million Class A and 1.7 million Class B shares allowed. Zuckerberg has super-voting Class B shares, which have 10 votes per share compared to Class A shares, hence maintaining control over Meta even with these transactions.

Meta’s stock has jumped over 70% year-to- date, just hitting a new high of $588.88, therefore increasing its market valuation to about $1.49 trillion. Third-quarter earnings growing 35% year-over-year and income jumping 19% to $40.59 billionabove analysts’ expectationshave helped the company’s financial performance maintain this expansion.

Apart from its financial performance, Meta has started various projects aimed at confirming its leadership in technology. Plans call for include individuals created by artificial intelligence on Facebook and Instagram to improve user interaction among its three billion members. “Metamate,” an internal AI tool the corporation is also creating, will help to increase output and simplify processes.

Meta has unveiled new products including augmented reality glasses, “Orion,” and improved Ray-Ban Meta smart glasses with artificial intelligence capacity and real-time voice translating. Early 2025 advertising in Threads, its X (previously Twitter) rival firm, will also help the company profit.

Meta is funding these developments by spending $10 billion in a new data center in Louisiana, meant to meet the rising energy consumption of its AI projects.

This article first appeared on GuruFocus.