“American billionaires are selling stocks by the boatload – sparking fears of an impending financial disaster.
Jeff Bezos – the third-richest man behind Louis Vuitton’s Bernard Arnaut and Elon Musk – unloaded $8.5billion in Amazon shares this month alone.
Mark Zuckerberg – the fourth-richest – sold about 1.4 million Meta shares worth roughly $638million.
Jamie Dimon, chairman and CEO of JPMorgan, shilled $150 million this past week, in his first cash-out since taking the reins at the bank nearly two decades ago.
Within days, Apollo Global Management’s Leon Black also enacted his first-ever sale, shedding $172.8million in his equity firm after 34 years. Walmart’s Walton family sold $1.5billion in a week, bringing its total sale proceeds to $2.3billion since December.
The series of transactions were all made within weeks of each other, and have already sparked conversation amongst onlookers”
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