Facebook (FB) chief executive officer Mark Zuckerberg and Amazon (AMZN) CEO Jeff Bezos have sold millions of shares in their corporations recently. In contrast, Dish’s (DISH) cofounder and chair recently bought an oversized number of Dish shares.
This month, Zuckerberg has sold around 1.6 million Facebook shares worth almost $296 million up to now, in step with regulatory filings. The filings additionally show that Zuckerberg has sold nearly 2.9 million shares worth over $526 million up to now this year. Zuckerberg sells Facebook shares from time to time. A number of his past Facebook stock sales have been joined to fundraising for his Chan Zuckerberg Initiative philanthropic organization. The initiative supports work in science, education, and an array of social problems like social justice.
In the final days of July, Bezos sold $1.8 billion worth of his shares in Amazon. Bezos didn’t disclose the explanation for the huge Amazon share sale. However, we know that Bezos has been raising funds for his expensive space travel program. A couple of years ago, Bezos pledged to sell $1.0 billion worth of his Amazon shares annually to fund his space company, Blue Origin.
Zuckerberg’s Facebook share sale comes because the stock soars.
Both Zuckerberg’s and Bezos’s share sales come at a time once the stocks are rallying. Facebook shares have risen 39%to this point in 2019 as of August 22. Twitter, Pinterest, and Alphabet (GOOGL) shares are up 47%, 45%, and 14%, severally, to this point in 2019. Amazon and Snap (SNAP) shares are up 20% and 192%, severally, to this point in the year. Snap shares are on fire since the corporate reported sturdy second-quarter results.
The stock sales by Zuckerberg and Bezos additionally come as their corporations face accumulated regulatory scrutiny. Last month, the U.S.A. Department of Justice proclaimed a broad antitrust review of the leading internet search, social media, and e-commerce corporations. Though the department didn’t specify any names, we believe Facebook and Amazon are the targets. Facebook dominated the social media space within the U.S.A. with a 51% market share in July, in keeping with StatCounter information. Amazon rules the e-commerce space within the U.S.A. with a 47th share of the market, in line with eMarketer figures.
Amazon’s nearest contestant, eBay, has solely a 6.1% share of the market. Google dominates the internet search market within the U.S.A. It had an 88% market share in July, consistent with StatCounter information. That additionally makes it a probable target of the Department of Justice’s antitrust probe of giant tech.
Facebook’s Libra project, specifically, faces a great deal of scrutiny from lawmakers and regulators in Europe and theU.S.A.
As Zuckerberg sells Facebook shares, Dish’s top executive is loading up on the stock. Dish Chair Charles Ergen spent $16 million to buy over 500,000 shares within the company early this month.