Bezos, Zuckerberg Lead Magnificent Seven Insider Stock Sales

Insiders at the Magnificent Seven tech companies are following Jeff Bezos and Mark Zuckerberg in realizing gains from the stocks that have largely powered the boom in US equity markets.

Almost a dozen executives and directors at the firms recently boosted their share sales, earning more than $160 million since late 2023 after not cutting their stakes in as long as nine years, according to data compiled by Bloomberg.

Take Alphabet Inc. Chief Executive Officer Sundar Pichai. He’s already sold more stock in Google’s parent company this year than in all of 2023, pocketing $30 million overall from almost two dozen sales filed as recently as this month. Alphabet’s shares have gained more than 90% since the start of last year.

Nvidia Inc. director Mark Perry has sold more stock so far this year than in the previous two years. And Apple Inc. Chairman Arthur Levinson filed in February to offload his biggest chunk of the iPhone-maker’s stock in more than two decades.

A representative for Alphabet said Pichai’s sales were done through a trading plan. Nvidia declined to comment, while Apple didn’t respond to a request for comment.

The moves underscore how Silicon Valley insiders are monetizing their holdings after tech stocks rallied to fresh records, rebounding from a 2022 slump caused by accelerating inflation and interest-rate hikes. Nvidia is the best performer among the Magnificent Seven stocks — and third-best on the S&P 500 Index — this year with an 83% gain.