text: Top executives offloaded shares just in time before the pandemic slashed company values - Angle News
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  Top executives offloaded shares just in time before the pandemic slashed company values
  Angle News March 24, 2020, 11:22 pm 75 Views
  WHO'S MAKING A QUICK BUCK?
  Jeff Bezos, Amazon – $3.4 billion
  Laurence Fink, BlackRock – $25 million
  Lance Uggla, IHS Markit – $47 million
  James Murren, MGM Resorts International (outgoing) – $22.2 million
  Jeff Bezos and other top executives offloaded shares just in time before the coronavirus pandemic slashed their company values, saving themselves billions.
  Executives at top US traded companies sold around $9.2 billion in shares of their own companies between the start of February and the end of last week, analysis from the Wall Street Journal has revealed.
  The quick move to offload shares looks to have saved the executives – who are already among the richest people in the country – billions, as they ditched them just in the nick of time before the markets plummeted.
  The analysis estimates that the sales prevented the top bosses losing around $1.9 billion between them, as the S&P 500 stock index plunged about 30% between February 19 and March 20.
  Jeff Bezos and other top executives offloaded shares just in time before the pandemic slashed company values, saving themselves billions. Bezoz offloaded $3.4 billion in shares in the first week of February
  Laurence Fink, CEO of BlackRock, sold $25 million of his company shares on February 14, saving himself potential losses of more than $9.3 million
  The sale accounted for around 3% of Bezos's total Amazon shares, and made up over a third of all stock exchange sales during this timeframe.
  A number of US senators were exposed last week after they appeared to offload stock while reassuring the public everything was under control over the outbreak
  Workers are hoping the federal relief package which politicians continue to fight over will provide some aid for those newly unemployed.