Billionaires and CEOs have dumped $9 billion in stock this year.
Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI.
Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance.
Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half.
Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.
Persons:
Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris
Organizations:
Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research
Locations:
Wall, Silicon