It has been revealed that Jeff Bezos, the world’s the richest man, sold $3.4bn of Amazon stock just before Covid-19 virus caused the stock market to collapse.
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The CEO of Apple is now $5.5 billion richer than he was at the beginning of the year thanks to his outrageously fortunate decision to sell of these stocks just before the market plunged and wiped trillions of dollars’ worth of value off the books.
This is not the only good news for the man whose estimated to be worth 120 billon dollars after Amazon recovered almost all its stock value loss following the best three-day stock market rally since 1933 after US President Donald Trump managed to pass his stimulus package for American citizens.
Several other US executives enjoyed similar highly unlikely luck in February by selling off their shares before the stock market collapse and in total executives sold about $9.2 billion in shares of the companies they run in the five weeks before the start of the stock market plunge.
Meanwhile, a number of US Senators have been accused of insider trading after they sold their stocks following being made privy to intelligence relating to the virus.
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