Amazon founder Jeff Bezos speaks with his full timing move last month! A new analysis by the Wall Street Journal shows that senior executives in the U.S. sold roughly $ 9.2 billion in stock between the start of February and last weekend, and the managers saved a potential loss of $ 1.9 billion. Jeff Bezos sold three percent of Amazon shares worth $ 3.4 billion in early February.
Bezos’ foresight saved from harm
Wall Street Journal reported that the sales of the giant companies in the United States at the beginning of February and the end of last week saved managers nearly $ 1.9 billion. More than 4,000 applications related to stock sales were reviewed by corporate officials of companies traded in the USA between February 1 and March 19. The biggest seller was Amazon. Jeff Bezos, who sold a total of $ 3.4 billion on Amazon, sold his shares in the first week of February, shortly before the stock market peaked.
It has been reported that thousands of managers have made similar movements. More than 150 executives sold at least $ 1 million of corporate shares in February and March. However, none of them could do more than the founder of Amazon, Jeff Bezos.
Bezos takes action before Corona virus strikes USA completely
According to the latest data, the sale represented roughly 3 percent of Bezos’ Amazon businesses. In the first week of February, Amazon sold as much stock as it had sold for almost 12 months. Bezos took action by understanding that the Corona virus would have a significant impact on the market. Bezos, whose net worth was estimated at $ 110 billion, would have suffered at least $ 317 million of damage on paper if it had not sold Amazon shares by Monday. In other words, Bezos left it at its peak at full timing. Shortly after the February 19 summit, the S&P 500 index sold the fastest 30 percent in history, and was reported to even exceed the declines experienced during the Great Depression.