Ernest Garcia II, Mark Zuckerberg and Jack Dorsey have been actively selling stock this year.
Courtesy Carvana; Jeff Chiu/AP; Matt Crossick/Getty Images
It’s been an incredible run for U.S. stocks over the past six months. The S&P 500 has surged 28% in that time, setting new record highs every month, with investors optimistic about the return to normalcy as more Americans get the Covid-19 vaccine. Such exuberance helped billionaires’ worldwide wealth grow by an astonishing $5 trillion since the early days of the pandemic in March 2020.
But is it the beginning of the end? An E-Trade survey of 957 active investors earlier this month revealed that 69% of the respondents thought the market was in a bubble.
Certainly plenty of investors have been cashing in, including some of the nation’s richest. Based on an analysis by Forbes, the biggest billionaire seller in recent months is Ernest Garcia II, the largest individual shareholder of used car e-commerce company…