American billionaires are selling shares for every boat – this raises fears of an impending financial disaster.
Jeff Bezos — the third-richest man behind Louis Vuitton’s Bernard Arnaut and Elon Musk — unloaded $8.5 billion in Amazon stock this month alone.
Mark Zuckerberg – the fourth richest – sold about 1.4 million Meta shares worth about $638 million.
Jamie Dimon, chairman and chief executive of JPMorgan, earned $150 million last week, in his first payout since taking the reins at the bank nearly two decades ago.
Within days, Apollo Global Management’s Leon Black also completed his first ever sale, throwing $172.8 million into his stock company after 34 years. Walmart’s Walton family sold $1.5 billion in one week, bringing its total sales proceeds to $2.3 billion since December.
Jeff Bezos – seen here with fiancee Lauren Sanchez – unloaded $8.5 billion in Amazon stock this month, sparking fears of financial uncertainty
Mark Zuckerberg – the world’s fourth-richest man behind Bezos, Bernard Arnaut and Elon Musk – has sold about 1.4 million Meta shares worth about $638 million since the end of 2023
The series of transactions were all made within weeks of each other and have already sparked conversation among onlookers.
Experts this week theorized that the selloff could be the result of the looming election and as the S&P 500 index — a decent measure of the larger economy — remains at a record high.
“If you read the tea leaves and look at what could happen to our policy in the next year or so, things are pretty good right now – the markets are up,” said financial firm consultant Alan Johnson. Assets late last month.
The associate at Manhattan-based Johnson Associates went on to suggest that the sell-off could be the result of a potentially volatile decline coinciding with the upcoming general election.
“With our politics and everything else that’s going on geopolitically, it might not be so good a year from now or two years from now,” he admitted.
The expert then pointed to the S&P 500’s recent impressive performance and how it has risen more than 27 percent in the past year.
That development added billions to the portfolios of the figures responsible for the latest selloff within a year, Johnson recalled — adding that those executives are currently “more in the money” than expected.
Because of this, Johnson said diversifying their holdings — at least from an investor’s point of view — is a good idea.
Jamie Dimon, chairman and chief executive of JPMorgan, made $150 million last week — his first stock sale since taking the reins at the bank nearly two decades ago
Within days, Apollo Global Management’s Leon Black also completed his first ever sale, throwing $172.8 million into his stock company after 34 years.
Walmart’s Walton family sold $1.5 billion in one week, bringing its total sales revenue to $2.3 billion since December. Alice Walton, the 73-year-old heir to the retail dynasty, is seen here. She is worth approximately $66.5 billion and is the richest woman in the United States
Experts this week theorized that the stock selloff could be the result of the looming 2024 election — and likely a showdown between Donald Trump and Joe Biden. In an interview with Fortune, one said it could lead to an economically unstable decline
Hedging their bets, shareholders could also benefit from current tax breaks if they are eliminated under a new administration, the financial consultant said.
Many of those breaks were put forward during the Trump administration, Johnson said — meaning another Biden win could mean they’re finally put to bed.
Adding to the fear were statements from major financial market players in recent weeks – some of which suggested the sudden stock dump could be the result of something bigger behind the scenes.
American Hartford Gold, a company that disposes of gold and other metals to investors, suggested in a promo video posted on the company’s website late last month that the large liquidations may be a sign of a still-to-be economic dive.
Senior executive Mechi Block, who suggested that CEOs — using their different perspectives on the economy — “get out before the tech bubble bursts.”
“Billionaire CEOs like (Jeff) Bezos, (Mark) Zuckerberg, Jamie Dimon and the Walton family are selling massive amounts of their own stock, and analysts believe the CEOs may be bracing for an economic downturn,” he said in February. 29 clips.
Experts this week theorized that the selloff could be billionaires shedding their bets ahead of the looming 2024 election and as the S&P 500 index — a decent measure of the larger economy — remains at record highs. it has increased more than 27 percent in the past year
‘An overheated stock market continues to climb to new heights,’ he continued, adding, ‘as investors feed the frenzy of fear of missing out, financial insiders are unloading billions of dollars worth of stocks.’
He said their motivation, while unproven, ‘could have serious consequences for ordinary Americans.’
He went on to lay out the transactions and who made them before offering a theory similar to that of Johnson and several other seasoned experts.
“These stocks,” he said, “are selling as the S&P 500 index is at an all-time high” — a marker he credited to just “seven” companies, many of which are funky below the numbers in question.
He went on to point out how these companies have performed while the S&P was booming.
‘Meta stock is up 186 percent, JPMorgan is up almost 30 percent, and Amazon is actually up close to 90 percent. All three companies are trading near record highs,’ he said.
‘Analysts believe that the trigger for this mass sell-off could be the upcoming election and the volatility that is sure to bring.
US Hartford Gold’s Machi Block suggested in a promo video posted on the company’s website late last month that the large liquidations may be a sign of an ever-looming financial plunge
“Selling,” he added, “implies that the stock is fully valued and it’s time to get out while it’s good to get it.”
Like Johnson, he theorized that wealthy shareholders might want to take advantage of stock breaks implemented during the Trump years before they are potentially removed by the new Congress.
“Selling massive chunks of stock can also send a more serious message to individual investors,” he further warned.
“Typically, if CEOs buy stock, it shows a confidence in the future growth potential of that company.
“It’s also possible that these billionaires’ view from above may give them a different perspective on the economy and where it’s going.
Citing how Dimon recently sounded the alarm about the astronomical growth of the national debt and the lingering effects of inflation and growing geopolitical conflicts, he urged Americans to reach out to the company to buy gold as a way to hedge financial risks linked to equity markets.
As a result, gold was trading near record highs just over a week later, valued at around $2,193.80 per ounce. ounces