US tech execs have dumped $3.6 billion in company stock this month

US tech execs have dumped $3.6 billion in company stock this month
Share

Stock markets are floundering in the wake of the coronavirus (COVID-19) pandemic, and while many are stuck assessing its long-term effects — loads of tech executives have dumped their shares for major profit.

In fact, insiders at US tech companies — from fintech to cloud services — collectively unloaded at least $3.6 billion worth of company shares in May, with top executives from big players like Facebook, General Electric, Cloudflare, and Activision all selling small fortunes worth of stock.

[Read: Bezos and Zuckerberg worth $60B more in two months, thanks to COVID-19]

To digest the loin-thumping wealth recently generated by stock sales, Hard Fork built the visualisation below using the SEC data collated by FinViz. Click on each company to discover exactly who sold how many shares.

For example, navigating to the Mastercard block will show the company‘s CEO Ajay Banga selling $23.4 million worth of company stock.

You’ll also see that the company‘s general counsel, Timothy Murphy, liquidated 52,489 shares to pocket a cool $15 million. Most of the sales included in this data begin in the week starting May 15.

Source: The Next Web

Submit a Comment