Posted by Richard Willett - Memes and headline comments by David Icke Posted on 13 March 2024

So why are America’s mega-rich including Jeff Bezos and Mark Zuckerberg off-loading billions of dollars in stock? Super wealthy are in a race to ‘sell high’ and invest cash away from the market amid volatile global geopolitics and election

The mystery of the billions of dollars worth of stock sold by some of the wealthiest in the world despite the market continuing at an all time high remains.

The mass sale has prompted fears of a economic downturn, or it could be fears of a looming hike in taxes.

The tech bubble showed it was under extreme strain throughout 2023 with mass layoffs hitting Silicon Valley while President Joe Biden has promised a hike in taxes for the super rich should he win reelection in November.

As JPMorgan Chase CEO Jamie Dimon pointed out in a grim earnings statement in October: ‘This may be the most dangerous time the world has seen in decades.’

At the tail end of last year, it was reported that wealthy investors kept less than 25 percent of their net assets in the stock market.

Investors sell off for a variety of reasons, tax season in the US is right around the corner, or some simply want to diversify with all of these companies now firmly established as major players on Wall Street.

It could also be simply the oldest adage of the market, sell high.

In February 2024, Amazon founder Jeff Bezos sold $8.5 billion worth of stock during a nine period.

Jamie Dimon sold $150 million worth of his stock, the first time he’d much such a move since taking over the reins of the famed bank in 2006.

In October, Dimon laid out a laundry list of major issues: the Russia-Ukraine War, the new war between Israel and the Palestinians in Gaza, high levels of government debt and deficits, high inflation, as well as the tight labor market, where worker demands for increased wages have led to high-profile strikes in manufacturing and entertainment.

Facebook founder Mark Zuckerberg was also in on the act, selling off $428 million of Meta stock in 2023.

Between February 21 and 24, the family behind Walmart, the Waltons, sold $1.5 billion worth of stock. That brought their total amount sold since December to $2.3 billion.

It’s unclear where exactly these billionaires will spend their money. Zuckerberg’s sell off will pay for his new compound on the Hawaiian island of Kauai said to cost nearly $300 million.

Bezos meanwhile has backed away from Amazon in order to spend more time on his other things, including the rocket company, Blue Origin, and his philanthropy. It’s possible that he could want to direct funds to those projects.

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