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February 16, 2022

In this week’s FB Roundup, billionaire investor Stanley Druckenmiller sells off his stock in Facebook owner Meta, Goldman Sachs creates a family office for senior employees and an Australian multi-family office sees a huge return on investment in Fortnite gaming company.

Stanley Druckenmiller dumps stake in Facebook parent Meta

The family office of billionaire investor Stanley Druckenmiller ditched a $35.9 million stake in Facebook parent Meta and revealed new investments worth $67 million in social media company Snap Inc. and nearly $100 million in oil corporation Chevron.

The share sale by the New York-based Duquesne Family Office suggests Meta’s shift in focus to the metaverse may not have represented a compelling case for Druckenmiller.

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