Perfect timing: Bezos and other corporate execs sold billions in stock before COVID-19 rocked market

Jeff Bezos and other corporate executives across the country sold approximately $9.2 billion in shares of their own companies between early February and the end of last week, salvaging potential losses of up to $1.9 billion, according to an analysis of more than 4,000 regulatory filings by the Wall Street Journal.

The largest seller was the richest man in the world - Jeff Bezos, who sold $3.4 billion in Amazon shares the first week of February, right before the market peaked - which avoided paper losses of approximately $317 million through March 20. The sale constituted roughly 3% of his holdings - and was nearly as much stock as he sold during the previous 12 months. 

And while there is no indication that executives sold shares based on inside information - and the Journal notes that executives often sell shares early in the year for tax purposes, the amount of stock sold by US execs was up around 1/3 vs. the same period from the last two years according to the report.

Full report:

https://www.zerohedge.com/markets/bezos-and-other-corporate-execs-sold-billions-stock-covid-19-rocked-market