Global stock markets repeatedly hit new highs, and the world's wealthiest group chooses to cash out
Odaily Planet Daily News As stock markets repeatedly hit new highs, the world's wealthiest group is choosing to cash out and step aside; in recent weeks, they have cumulatively sold off over $1 billion worth of stocks.
Last week, a descendant of the German Viessmann family sold approximately $750 million worth of shares in Carrier Global, an air conditioner manufacturer headquartered in Florida.
Meanwhile, Danish tycoon Henrik Lind also offloaded about $175 million worth of shares in facility management company ISS A/S.
This month, Chris Ellison, founder of Mineral Resources Ltd., cashed out 122.5 million Australian dollars (approximately $87 million) by selling about a 10% stake in the Australian mining services company; it was his first reduction in this investment in nearly a decade.
These transactions vividly illustrate how wealthy private investors are locking in investment returns by reducing large positions as global stock market indices hit record highs. Despite geopolitical turmoil, global stock markets have continued to surge, driven by the AI boom and corporate earnings growth. Several investment banks, including Goldman Sachs, believe there is still room for further upside in the stock market, although some investors have begun to worry that current valuations have become too high.
