Global billionaires are trimming positions as equity indices hit record highs. In recent weeks they have sold more than $1bn of stock: a Viessmann heir sold about $750m of Carrier Global shares; Danish magnate Henrik Lind sold roughly $175m of ISS A/S stock; and Mineral Resources Ltd. founder Chris Ellison sold about 10% of his holding for A$122.5m (≈$87m), his first reduction in nearly a decade. The transactions signal wealthy private investors locking gains amid an AI-fueled rally and stronger

Global billionaires are trimming positions as equity indices hit record highs. In recent weeks they have sold more than $1bn of stock: a Viessmann heir sold about $750m of Carrier Global shares; Danish magnate Henrik Lind sold roughly $175m of ISS A/S stock; and Mineral Resources Ltd. founder Chris Ellison sold about 10% of his holding for A$122.5m (≈$87m), his first reduction in nearly a decade. The transactions signal wealthy private investors locking gains amid an AI-fueled rally and stronger corporate earnings, despite geopolitical volatility. Banks including Goldman Sachs still see upside, though some investors warn valuations look stretched.