global stock markets repeatedly hit record highs, prompting the ultra-wealthy to take profits

Odaily Planet Daily News As stock markets continuously hit new highs, the world's ultra-wealthy are choosing to take profits and cash out; in recent weeks, they have sold off a cumulative total of over $1 billion in stocks.

Last week, a descendant of the German Viessmann family sold approximately $750 million worth of shares in Carrier Global Corporation, an air conditioning equipment manufacturer based in Florida.

Meanwhile, Danish tycoon Henrik Lind also sold approximately $175 million worth of shares in facility management company ISS A/S.

This month, Chris Ellison, founder of Mineral Resources Ltd., cashed out A$122.5 million (approximately US$87 million) by selling about 10% of his stake in this Australian mining services company; this is 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 indices reach historic highs. Despite geopolitical turmoil, global stock markets have continued to soar, driven by the artificial intelligence boom and corporate profit growth. Multiple 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 are becoming too high. (Jinshi Data)