AI billionaires like Bezos, Nvidia director, CoreWeave CEO among top insider sellers

AI billionaires were among the biggest insider sellers in the third quarter, according to Washington Service data cited by Bloomberg. The period was highly volatile for tech stocks amid increasingly stark warnings about the risks around AI development, Bloomberg notes.

AI stocks slid in July amid mounting investor concern over the enormous sums of money being poured into the industry. They subsequently recovered those losses but came under pressure again in mid-September after Anthropic’s Dario Amodei and OpenAI’s Sam Altman called for a slowdown in the development of advanced AI models. Many stocks, however, quickly rebounded on new product launches, including Meta’s Muse AI agent, as well as on anticipation surrounding Nvidia’s next-generation AI architecture.

Bloomberg put together a list of the 10 biggest insider sellers based on Washington Service data. The figures include board members who report sales on behalf of their companies but exclude insider sales conducted as part of public offerings.

1. Mark Stevens, Nvidia

Nvidia board member Mark Stevens, whose net worth is estimated at $12.2 billion by the Bloomberg Billionaires Index, sold around 4.24 million company shares worth a total of $946.6 million during the quarter. Although the stock of Nvidia, the chip developer at the center of the AI boom, has gained around 27% this year, that performance looks modest compared to its rivals. Intel and Advanced Micro Devices, for example, have both more than tripled. Meanwhile, Nvidia’s earnings are growing faster than its valuation, which reflects Wall Street skepticism even as the company’s revenue continues to surge, Bloomberg believes.

2. Jayshree Ullal, Arista Networks

Arista Networks chair and CEO Jayshree Ullal, one of the world’s richest women, with a net worth of $8.7 billion, according to Bloomberg, sold around 2.23 million shares worth $446 million. According to filings with the U.S. Securities and Exchange Commission, the transactions took place in August as the networking-equipment maker’s stock went up. Ullal still owns a 2% stake in Arista. The company continues to benefit from the AI boom, as the mass buildout of data centers drives demand for its networking solutions, Bloomberg notes.

3. Keith Meister, Illumina

Illumina board member Keith Meister sold around 2.06 million shares worth $436.2 million. The activist investor joined the biotech's board in March 2025 and began selling down his stake this year through his hedge fund Corvex Management. As of September 4, Meister still directly owned 6,780 Illumina shares with a market value of $1.86 million.

4. Xuning Wang, SharkNinja

SharkNinja chair Xuning Wang, whose net worth is estimated at $10.6 billion by the Bloomberg Billionaires Index, sold around 2.67 million company shares worth $401.2 million. In July, he received a special one-time waiver from the board allowing him to sell part of his stake. After the transaction, Wang still owns around 35% of the company.

5. Michael Intrator, CoreWeave

CoreWeave chair and CEO Michael Intrator sold around 4.06 million shares worth $347.2 million. The provider of computing capacity for AI systems has become a bellwether for the data-center boom. CoreWeave’s stock has swung sharply since its 2025 IPO, and its top executives, led by Intrator, have sold billions of dollars’ worth of shares against this backdrop. The company stresses that its executives remain confident in its prospects and that the transactions are simply part of routine long-term liquidity management exercises.

6. Jeff Bezos, Amazon

Amazon chair Jeff Bezos, the world’s third-richest person with a fortune of $281 billion, according to the Bloomberg Billionaires Index, sold around 1.21 million company shares worth $346.5 million. In August, Amazon became the fifth company in history to surpass $3 trillion in market capitalization, driven by strong results from its cloud business. Nevertheless, the stock has been volatile this year amid growing investor concern that tech giants are spending too much on the AI race.

7. Martine Rothblatt, United Therapeutics

United Therapeutics CEO and chair Martine Rothblatt sold 608,000 shares worth $314.1 million. The transactions came after the company scored a major victory in a patent dispute last month with Liquidia over treatments for lung diseases.

8. John Oyler, BeOne Medicines

BeOne Medicines chair and CEO John Oyler sold around 904,400 shares worth $293.5 million. The transactions came amid gains in the stock, which is up around 20% this year. Despite selling part of his stake, Oyler still owns close to 5% of the drugmaker.

9. Peter Beck, Rocket Lab

Rocket Lab chair and CEO Peter Beck sold around 3.28 million shares worth $286.4 million. The transactions came as the space company took major strategic steps: in late June, it agreed to acquire satellite-communications pioneer Iridium Communications as it seeks to compete with SpaceX’s Starlink service.

10. Frank Slootman, Snowflake

Snowflake chair Frank Slootman, whose net worth is estimated at $3.5 billion by the Bloomberg Billionaires Index, sold around 908,200 shares worth $282.7 million.