How the rich stay rich

Jeff Bezos and other top executives offloaded shares just in time before the pandemic slashed company values, saving them 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
  • This saved the executives around $1.9 billion, as the S&P 500 stock index plunged about 30% between February 19 and March 20
  • Amazon boss Jeff Bezos was by far the biggest seller, offloading $3.4 billion in shares in the first week of February, saving a staggering $317 million 
  • More than 150 top bosses who sold at least $1 million worth of stock in February and March had not sold any stock in the last 12 months  
  • There is no suggestion that the sales was done due to information about coronavirus but the sales dwarfed those in the same period in 2019
  • A number of US senators were exposed last week after they appeared to offload stock while reassuring the public everything was under control
  • Ordinary workers have been less lucky, with many losing their jobs overnight and more than 37 million jobs at risk
  • Coronavirus symptoms: what are they and should you see a doctor?

Rachel Sharp – Daily Mail March 24, 2020

Jeff Bezos, who is currently the richest person in the world worth an estimated $98.6 billion. Click to enlarge

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.

Amazon boss Jeff Bezos was by far the biggest seller, offloading $3.4 billion in shares in the first week of February, saving him a staggering $317 million than if he had kept the stock through to March 20.

It also saw the billionaire sell as much stock in that one week as he has in the last year, the Journal reported.

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.

Laurence Fink, CEO of BlackRock, also acted to offload stock as the US geared up for the coronavirus to reach new heights, selling $25 million of his company shares on February 14, saving himself potential losses of more than $9.3 million.

A spokesperson for BlackRock told the Journal his sales were a small percentage of his holdings and that he had sold a similar amount of stock the same time in 2019.

The boss of IHS Markit, Lance Uggla, also sold $47 million of his shares around February 19, which would by now have plummeted by $19.2 million.

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7 responses to “How the rich stay rich”

  1. My father had a friend who was a somebody in the intelligence world and the first man to name Rothschild as the 5th man in the Burgess Mclean spy ring, he was also the first man
    to publicly expose Churchill for what he really was, a drunken perverted buffoon.
    He told us that Jewish business men right back to ww 2 always knew what was going up or down in the annual budget, he said fortunes were made in this way.
    He also said that what went up or down was decided by a Rothschild team.
    Over many years as i learnt more this has made more and more sense to me

  2. HOW JEWS GET RICH
    After w w 2 when the British armies were being demmobed an desperate for work,
    the Governent betrayed the men that had fought for it by advertising all government jobs in the West Indies, saying “come do the jobs Englishmen are too lazy to do”
    The ex soldiers were furious, and eventually my uncle had to set up his own business.
    As a good carpenter he rented an old shop in East London witha large shed out back
    and he began buying the ruined furniture from bombed London homes and repairing it and putting in in the shop window, business was brisk and in a year he had taken on 3 men and a handicapped boy who was a ” Go fetch” and teaboy.
    His financial turnover was very healthy and one day a jewish chap came into the shop
    and said he had been watching things and wanted to buy the business, but he offered such a low price my uncle asked him to leave, as he left he said well i will take your business anyway.
    The jew went to the Synagogue and got an interest free loan, and got a shop oposite my uncles.
    The Synagogue told the jews they had to buy anything they need from this guy, they got him supplies from other jews at reduced prices, and soon all my uncles customers were goung to the jew, he could see the queues of people in the jews shop.
    My uncle told my dad he had not taken a penny in over 3 weeks, and things looked bleak.
    He gradually let go his workers including the guilt ridden bomber pilot and the handicapped boy.
    That weekend my uncle put a chair under the door handle to the back door, and hung himself.
    Synagogues are intelligence gathering places and if they see a successful non jew, by one means or another they will take it away.

  3. The worst part about these deplorables is they know when they sell it the buyer will make a loss. It’s like, “Here! Come and buy my shares (and lose half your kid’s college fund!)”

    Greed is an ugly trait and these sharks are very greedy.

  4. Insider information of course….but since the media works for THEM not the public good….theres no mention of this….duh!.

    It’s a conspiracy by the one percent against the people……easy peasy…..let’s not consider otherwise and use commonsense….

    Well Thomas Jefferson DID WARN AMERICANS….Today of course because America is so corrupt no American president like Jefferson would ever challenge the vice like grip the Jewish bankers have over America……
    Someone who did challenge the fiends and actually said so…….and he was assassinated and his two brothers and his son….JFK…….
    No European of Jeffersons intelligence and stature WOULD EVER BE ALLOWED TO STAND FOR PRESIDENT.
    Just recall the lineup of flunkies who have occupied the Oval Office since Kennedys time…..IS IT ANY WONDER AMERICA IS IN TROUBLE!!….
    Some people have suggested that this virus thing is a cover for a pending financial collapse….makes sense.

    Keep in mind there was a gap of ten years between the stockmarket crash and the beginning of WW2….

  5. John, in English we say ‘hanged’ and not ‘hung’
    The use of ‘Hung’ in this case is an Americanism.

  6. Look at Jeff Bezos photo above ..
    As the saying goes ?? The eyes are the window to the Soul ??
    Tell me , what type of Soul do you see in his eyes ??

  7. The signatures of 3 and a half milion people have gone to 10 Downing st
    The government have said Churchills face will no longer appear on British banknotes
    but its not because of the petition, but because so many have been criminally defaced.
    Churchill on our banknotes is like having Enoch Powell on Jewish banknotes
    it could not happen in israel so why do we put up with this nonsense ?