According to the news of The Wall Street Journal (WSJ), more than 4,000 transactions were analyzed regarding the share sales of the top executives of companies traded on the US stock exchange between 1 February and 19 March.
The report emphasized that the S&P 500 index fell 30 percent from the high level seen on February 19 until the closing on March 20, while high-level executives selling their shares prevented a total loss of $ 1.9 billion.
BEZOS, FOUNDER OF AMAZON MADE THE MOST SALES
It was stated that the founder and CEO of Jeff Bezos, Amazon, was among the top selling names of the top executives.
It was noted that Bezos disposed of $ 3.4 billion of shares in the first week of February, which corresponded to about 3 percent of the shares he owned in the Amazon company.
According to the current transaction records, Bezos’ sales density in the first week of February is almost equal to the total share sales density for 12 months.
MORE THAN 150 TOP LEVEL MANAGERS SOLD AT LEAST 1 MILLION DOLLARS
In the news, which also examines the stock movements carried out by other senior company executives in the USA, it was emphasized that sales of February and March increased by one third compared to the same period of the previous two years.
According to the report, each of more than 150 top corporate executives and employees in the U.S. sold at least $ 1 million of their individual shares, which they did not trade in the past 12 months before the stock market was down.
BlackRock Inc.’s CEO, Laurence Fink, reported that it saved $ 9.3 million loss in the stock market by selling its $ 25 million stake, while HIS Markit Ltd’s CEO Lance Uggla would later fall to $ 19.2 million. It was pointed out that he sold his dollar shares on February 19.
In the news, it is also shown as another example that Marc Rowan, one of the founding partners of Apollo Global Management Inc., sold $ 99 million shares before the crisis and saved about $ 40 million of stock exchange losses.
THE US SENATORS ARE ADVANCED FOR THE CORONA VIRUS Crisis
Last week, it was revealed that both members of the US Congress were making unfair earnings with the information they obtained using their positions prior to the financial crisis caused by the new type of Corona virus outbreak.
Kelly Loeffler, Georgia State Senator with the Republican Party, attended a meeting on the Corona virus held at the Senate Health Committee on January 24, and then sold the stocks.
Loeffler, who is the president of the New York Stock Exchange, loses 50 percent of the value shortly after the sale of the company named Resideo Technologies, which has lost between 50,000 and 100,000 dollars, then working on home-based software and in the epidemic crisis. It was determined that Citrix company, which gained serious value, bought shares between 100 thousand and 250 thousand dollars.
North Carolina Senator Richard Burr, the President of the US Senate Intelligence Committee’s Republican Party, was also criticized for selling shares between himself and his wife in the range of $ 628,000 and $ 1.72 million in mid-February, before the stock market went down on special information about Corona virus, thanks to his position.