21 of the world's richest billionaires have sold $9.3 billion worth of stock since the beginning of the year.
In January-June 2023, 21 billionaire among the richest people in the world sold shares of companies traded in the United States for a total of $ 9.3 billion, according to Forbes magazine.
Among the successful sellers of shares Rob Walton, Joe Gebbia and Larry Ellison.
According to the publication, after a disappointing 2022, many billionaires are once again "in the mood to sell." They are now actively getting rid of shares of companies that do not interest them.
Some of the businessmen are also planning to invest in buying sports teams, so they need large amounts of "free money". In order to do this, billionaires are selling shares in their companies. Some of them sell shares because of buybacks by companies to avoid exceeding their desired stake.
One of the biggest deals on Forbes' list was Rob Walton's $1.1 billion sale of stock in retailer Walmart. Joe Gebbia also sold $890 million worth of shares in home rental service Airbnb, and Larry Ellison sold $850 million worth of shares in his founding corporation, Oracle.
In April, Forbes reported that Bernard Arnault, owner of Louis Vuitton and Dior, topped the list of the richest billionaires in the world.