World’s richest billionaires sell shares worth $9.3B since early 2023

In the first half of 2023, the world’s 21 richest billionaires sold $9.3 billion worth of shares in US-listed companies, Report informs referring to Forbes.

Successful stock sellers include Rob Walton, Joe Gebbia and Larry Ellison.

After the unsuccessful 2022, many of the richest people in the world are again ‘set to sell.’ Now they are actively getting rid of the shares of companies in which they are no longer interested. Some of the richest entrepreneurs also plan to invest in buying sports teams, so they need significant amounts of ‘free money.’ To do this, they sell shares of their companies. In addition, some businessmen sell shares through buybacks by companies in order to avoid exceeding their desired stake.

One of the biggest deals listed by Forbes is Rob Walton’s $1.1 billion sale of retailer Walmart. Joe Gebbia sold $890 million of Airbnb, and Larry Ellison sold $850 million of his founding Oracle Corporation.

In April, Forbes reported that there had been a change in the ranking of the richest billionaires in the world, and the owner of Louis Vuitton and Dior, Bernard Arnault, became the new leader. The magazine estimates that almost half of the billionaires on the list have become poorer over the past year. An example of such a decline in wealth is Elon Musk, who lost almost $40 billion.