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  Time to Cash-In? Top Executives raise $2.85 billion during January

 



February 17th, 2013
As the Dow Jones climbed closer to the 14,000 mark during the month of January, more than 3,900 US executives decided to sell stock, raising an astounding $2.85 billion in cash. On the top of the list are 507 wealthy executives who each sold more than $1 million in stock.

Most of the top executives from January's list of top sellers have one or more college degrees. Topping the list with the most sales by undergraduate alumni were SUNY Binghamton, University of Pennsylvania, Harvard College, University of Michigan, Princeton University and University of Maryland. Each of the top undergraduate schools had alumni who sold stocks of more than $60 million altogether. Some smaller schools also pushed their way into the top 30 list of schools, including the University of North Dakota, Newport University, Bowdoin College, Smith College and the University of Calgary.

 

The list of stock selling executives includes many renowned philanthropists, such as Bill Gates ($124M), Larry Page ($60M) and Sergey Brin ($60M), as well as many lesser known millionaires who are often more discreet about their wealth and their philanthropy efforts. One of the top 10 cash-raisers on the list is the Chairman of TD Ameritrade Joe Moglia, who sold more than $29 million of AMTD's stock during the month of January. Not only is Mr. Moglia the Chairman of AMTD, but he is also the head football coach of Coastal Carolina University. Before embarking on his career in finance, Moglia was a football coach for 16 years. After stepping down from his CEO post at AMTD, he returned to football. Mr. Moglia has a Masters in Economics from the University of Delaware and an undergraduate degree from Fordham University.

Another notable executive in the top 10 is Noel Watson, who is the Chairman of Jacobs Engineering Group. During January, Watson sold $27.6 million of JEC's stock. Jacobs Engineering Group, which provides technical, professional and construction services, has seen its stock jump by nearly 16% year-to-date. Mr. Watson holds a B.S. in chemical engineering from the University of North Dakota.

Also on the list is Sheryl Sandberg, Facebook's Chief Operating Officer. Sandberg sold $24 million worth of Facebook's stock during the month. She is also on the social networking company's board and holds nearly $1 billion of the company's unvested stock. Before Facebook, Sandberg was the chief of staff for the U.S. Treasury Department during Bill Clinton's presidency. Ms. Sandberg has a bachelor's degree and an MBA from Harvard.

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