Dimon, CEO of the largest US bank, sold approximately $234 million in stake during the quarter. He has a net worth of $3 billion, according to Bloomberg’s Wells Index.
The first quarter was a period of market volatility. Although tech stocks surged early on for President Trump, uncertainty about tariffs up until April 2nd until his so-called release date helped encourage trillions of dollars to sell from the global market. Elon Musk, the world’s wealthiest, has taken away $129 billion in wealth so far this year as uncertainty about tariffs that could affect everything from mobile phones to semiconductors has hit stocks in the tech industry hard. Already, some billionaire insiders are taking advantage of the opportunity to buy stocks at a slump price and increase their shares.
According to the Washington Services, insider sales have declined compared to the first quarter of 2024, with 4,702 insiders dropping off a total of $28.1 billion worth of stock. The majority of last year’s sales came from Jeff Bezos, who in February disposed of Amazon.com Inc.’s stake worth more than $8.5 billion. This year’s first quarter total was distributed more evenly between 10 sellers, with over $3.8 billion unloading stock.
According to Washington services, this is the top insider seller for the first three months of the year.
