Top 10 insiders reducing their holdings in 2025: Bezos, former CEO of Oracle, Huang Renxun, and Zuckerberg are all on the list.

In 2025, the increase in the US stock market is largely dominated by super large-cap technology companies. At the same time, executives of these relevant companies, as insiders, have conducted significant selling activities - the billionaire founders, CEOs, and directors have collectively cashed out over $16 billion. The largest transaction came from Jeff Bezos of Amazon. The timing of his stock sales coincided with his wedding to Lauren Sanchez. Bezos sold 25 million shares of Amazon stock, cashing out approximately $5.7 billion. Driven by the frenzy surrounding anything related to artificial intelligence, tech stocks soared, boosting the net worth of some relatively low-key executives, such as Arista Networks CEO Jayshree Ullal. As a rare "non-founder" billionaire CEO, her net worth surged to over $6 billion last year, and she sold nearly $1 billion in stock. Almost all major insiders who sold out used 10b5-1 trading plans, which are pre-declared and pre-arranged stock selling plans. Here are the top ten insider selling transactions in 2025. The data covers disclosure documents filed as of December 30, including board members disclosing transactions on behalf of the company. 1. Jeff Bezos Position: Amazon Chairman Number of shares sold: 25,000,000 shares Total amount sold: $5,654,270,394 Bezos sold 25 million shares of Amazon stock in 2025 through a pre-arranged trading plan, totaling approximately $5.7 billion. According to the Bloomberg Billionaires Index, he has sold over $50 billion worth of Amazon stock since 2002. Bezos has been diversifying his investments in recent years, with the proceeds from his stock sales often used to support his space project - Blue Origin. 2. Safra Catz Position: Former CEO of Oracle Number of shares sold: 12,500,000 shares Total amount sold: $2,531,343,305 Catz has always quickly liquidated stock options after receiving them, a pattern that continued in 2025. Through a 10b5-1 plan, she exercised and sold a large number of performance stock options obtained in the first half of the year, coinciding with Oracle's stock price hitting a new high. Unlike founder Larry Ellison, Catz now holds only about 1.1 million shares. After serving as CEO for 11 years, she stepped down as CEO in September 2025 and took on the role of Vice Chairman. 3. Michael Dell Position: CEO of Dell Technologies Number of shares sold: 16,253,968 shares Total amount sold: $2,222,753,261 Dell garnered attention in December when he and his wife Susan announced a $6.25 billion donation to establish "Trump accounts" for 25 million American children. Part of this funding may come from his ongoing stock sales throughout the year. In 2025, Dell sold over $2 billion in stock in June and October, without using a 10b5-1 plan, bringing his total stock sales to over $13 billion. He currently holds about 40% of the company's shares. 4. Jensen Huang Position: CEO of Nvidia Number of shares sold: 6,000,000 shares Total amount sold: $1,048,586,165 Huang initially expected to cash out approximately $865 million when he first announced his sale of Nvidia stock, but as the stock price continued to rise, the final amount exceeded $1 billion. During his selling spree, Nvidia became the first company in the world to surpass $4 trillion in market value, followed by $5 trillion. Huang also donated over $300 million to charitable funds and his foundation. 5. Jayshree Ullal Position: CEO of Arista Networks Number of shares sold: 7,560,143 shares Total amount sold: $975,839,433 In 2025, Arista Networks stock price surged by nearly 50%, and Ullal's stock sales reached a personal record. Despite this, most of her $6.1 billion net worth is still tied to her 2.4% ownership of the company. She is one of four billionaires related to Arista and one of the richest non-founder female CEOs globally. 6. Mark Zuckerberg Position: CEO of Meta Platforms Number of shares sold: 1,387,605 shares Total amount sold: $944,785,836 In 2025, Meta's stock rose by 13% due to its full embrace of AI. During this period, Zuckerberg and his Chan Zuckerberg Foundation sold nearly $945 million in stock. Zuckerberg has previously stated that he will donate 99% of his shares during his lifetime and currently holds about 13% of the company's shares. It was a tumultuous year for his philanthropic endeavors: the organization underwent layoffs and strategic realignments, and severed ties with a pro-immigrant organization he co-founded. 7. Max de Groen, representing Bain Capital Position: Director of Nutanix Number of shares sold: 10,980,467 shares Total amount sold: $830,759,670 This Nutanix director represents Bain Capital. Over the past year, Bain Capital has sold about two-thirds of its stake in this cloud computing company. Last summer, the Boston-based investment firm converted convertible bonds into stock, acquiring 16.9 million shares. Groen stated in June 2024 that Bain Capital had no intention of selling these shares. However, Bain Capital still sold nearly 11 million shares through two transactions in March and June, both disclosed in Groen's name. Despite Nutanix's stock hitting a high in May, the stock saw double-digit declines in November after revising down revenue expectations for 2026. 8. Frank Slootman Position: Chairman of Snowflake Number of shares sold: 3,437,162 shares Total amount sold: $757,721,569 Slootman, after stepping down as CEO of Snowflake in 2024, continued to exercise and sell stock through a 10b5-1 plan. With experience leading three tech companies, he has accumulated a billion-dollar fortune, surpassing non-founder CEOs like Apple's Tim Cook and Microsoft's Satya Nadella. Slootman still serves as Chairman of Snowflake. 9. Nikesh Arora Position: CEO of Palo Alto Networks Number of shares sold: 4,000,000 shares Total amount sold: $738,421,375 Arora, who previously served as an executive at SoftBank Group, was appointed CEO of network security company Palo Alto Networks in 2018 and received a lucrative compensation package. Since then, this billionaire has followed a 10b5-1 plan to exercise and sell some stock options each month, totaling nearly $740 million in 2025. Earlier in 2025, Arora and a group of tech investors jointly purchased a cricket team in the UK. 10. Baiju Bhatt Position: Director and Co-Founder of Robinhood Number of shares sold: 7,697,404 shares Total amount sold: $724,926,811 Robinhood's co-founder Bhatt briefly entered the ranks of the global top 500 billionaires in 2025, as the company's stock price quadrupled during the year. Before the price dropped, Bhatt successfully cashed out nearly $725 million. The former co-CEO sold a total of 7.7 million shares throughout the year, including millions of shares not covered by his existing trading plan. His net worth is currently around $6.7 billion, down from the October high of $8.9 billion. This article is compiled from "Wall Street View" by author: He Hao; Edited by GMTEight: He Yucheng.