These Billionaires Sold The Most Stock So Far In 2023 by DurotMatthew
Twenty-one of the world’s richest people, including Larry Ellison and Rob Walton, have unloaded shares worth more than $9 billion combined in the first six months of this year.ince stepping down from his day-to-day role at Airbnb in July 2022, cofounder Joe Gebbia has ramped up his stock sales, unloading 7.3 million shares of the peer-to-peer home renter for $890 million before tax during the first half of 2023 alone–more than all but three other billionaires.
With stocks bouncing back from a terrible 2022, many of the world’s richest people were in a selling mood during the first half of 2023. Gebbia was one of twenty-one billionaires who sold U.S. listed shares worth more than $100 million over the last six months—$9.3 billion in sales combined before taxes and the cost of option exercises in all cases .
Josh Harris fell in two of those categories, unloading $210 million of stock in Apollo Global Management, the private equity giant he cofounded in 1990, during the first half of 2023. Since leaving Apollo in 2021, Harris–now worth an estimated $6.5 billion–has dumped nearly 30% of his shares for $830 million, which will likely help fund a Harris-led group’sfor a record $6 billion, as well as the new alternative asset management firm Harris launched last September, 26North.
Walmart heir Rob Walton recently bought a football team of his own, leading a group that purchased the Denver Broncos for a thenestimates that Rob, Alice and Jim Walton, the three living children of Walmart founder Sam Walton , each received 25% of the $4.5 billion in cash generated by sales of the retailer’s shares by their Walton Family Holdings Trust. Their nephew Lukas Walton ranked as the ninth biggest seller of the last six months, thanks to his estimated 8% stake in the vehicle .
Larry Ellison, meanwhile, has seen his stake in Oracle grow by nearly a fifth to around 43%, despite the fact that he sold roughly $2 billion of his shares since 2020, including $850 million worth during the first half of 2023–more than anyone but the three Walton siblings and Gebbia. That’s because the software company Ellison cofounded and chairs bought back nearly $50 billion of its own stock over the last three and a half years.
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