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.