Bezos, Musk And Zuckerberg: Billionaires Fatten Their ‘cash’ With The Sale Of Shares

The great millionaires of the 21st century, the giants of technology Jeff Bezos, Elon Musk or Mark Zuckerberg, not only have they got rich during the pandemic, but in this 2021 they keep growing their fortunes by getting rid of their stocks, which are at highs, before the threat of tax changes.

The sale of shares of these top executives or “insiders” (as people with positions in a company are known) of corporate America has skyrocketed in 2021 to levels never seen before, with a joint collection of almost 69,000 million to date, 30% more than in the whole of last year.

The figure, compiled by InsiderScore / Verity, which analyzes the operations of the “insiders” to generate investment ideas and has as clients institutional managers, is due to “a combination of factors” led by the dazzling stock appreciationhis research director, Ben Silverman, told Efe.

“The appreciation of (stock) prices, unsurprisingly, has led some ‘insiders’ to behave opportunistic waySilverman added.

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The top seller of 2021 by fundraising value is Jeff Bezos, founder of Amazon and now dedicated to his Blue Origin space travel company and to philanthropic projects, which has sold shares worth 9,970 million throughout the entire year 2021, attributed to a preconfigured plan called “10b5-1”.

Broadly speaking, the “10b5-1” plans, established by the Securities Market Commission (SEC), allow large shareholders to set up passive purchase and sale operations in advance in order to avoid being accused of using inside information.

Bezos’s sales on Amazon “were not unusual, and in 2020 it sold even more shares than this year“But those of another of the richest men in the world, Elon Musk, the founder of Tesla, do attract the attention of the expert:” He had not sold since 2010, in the IPO of the company. ”

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Musk has raised $ 5.4 billion in just one month since on November 6, the fate of a part of its shareholding was submitted to a vote on Twitter, with the option of selling as the winner.

The founder of Meta (new Facebook name), Mark Zuckerberg, It has been bagged this year 4.470 million with sales practically daily, and Google founders Larry Page and Sergey Brin have earned a few 1.5 billion, all of them following these types of plans.

The Walton family, the richest in the US and heir to the supermarket chain WalmartMeanwhile, he has pocketed $ 6.18 billion since January as part of regular sales to his nonprofit foundation.

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Satya Nadella, the CEO of Microsoft, jumped to the headlines this week for his decision to sell more than half of your company securities, about 840,000, for $ 285 million due to “personal planning and financial diversification reasons.”

There are suspicions that another implicit reason for these stock sell-offs has to do with the taxation, as the pressure may soon mount: in the state of Washington – where Microsoft is based – there will be a higher tax on long-term capital income starting in January, and at the federal level, a higher tax rate on millionaire income.

“Potential changes to tax codes at the federal and state level are also a probable factor for some ‘insiders’explained Silverman, who also took into consideration the large number of companies that have come onto the market in recent years.

* By Nora Quintanilla from New York

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