Phlebas
Padawan Learner
Jeff Bezos sold $3.4bn of Amazon stock just before Covid-19 collapse
"There is no suggestion that Bezos acted improperly by selling the shares or that he was acting on non-public information about the impact of the pandemic. But his timing was near-perfect. The share sales, which represented about 3% of his total holding, were much greater than Bezos had made in previous months. The stock sold was as much as he had sold in the previous 12 months, according to analysis by the Wall Street Journal.
In total US executives sold about $9.2bn in shares of the companies they run in the five weeks before the start of the stock market rout. Selling before the 30% collapse in the market saved them from paper loses of $1.9bn."
"There is no suggestion that Bezos acted improperly by selling the shares or that he was acting on non-public information about the impact of the pandemic. But his timing was near-perfect. The share sales, which represented about 3% of his total holding, were much greater than Bezos had made in previous months. The stock sold was as much as he had sold in the previous 12 months, according to analysis by the Wall Street Journal.
In total US executives sold about $9.2bn in shares of the companies they run in the five weeks before the start of the stock market rout. Selling before the 30% collapse in the market saved them from paper loses of $1.9bn."
Jeff Bezos sold $3.4bn of Amazon stock just before Covid-19 collapse
As trillions of dollars were wiped off stock markets some of the world’s richest got lucky
www.theguardian.com