4 weeks ago
Rich Handler precocious offloaded a boatload of Jefferies Financial Group stock.
The investment bank connected Wednesday disclosed nan transaction successful some a property merchandise and Securities and Exchange Commission filing, saying its CEO did truthful "to facilitate nan acquisition of a individual committee and to salary taxation obligations."
The waste progressive 1.5 cardinal shares and equated to $65.25 million, according to Jefferies.
Richard Handler, president and main executive serviceman of Jefferies Group Inc., speaks astatine nan Milken Scholars Alumni Symposium successful New York, U.S., connected Friday, Feb. 22, 2013. The Milken Scholars Program provides support for talented young leaders successful coll (Peter Foley/Bloomberg via Getty Images / Getty Images)
Handler said successful a connection that he "do[es] not intend to waste immoderate further shares." Jefferies shares person posted much than a 41% summation successful nan past year.
SEE META CEO MARK ZUCKERBERG'S BRAND NEW 287-FOOT SUPERYACHT
Handler’s liking successful nan finance slope became roughly 19.25 cardinal shares "on a afloat diluted basis" post-transaction, according to Jefferies.
| JEF | JEFFERIES FINANCIAL GROUP INC. | 43.47 | -1.11 | -2.50% |
"I stay highly bullish connected Jefferies and afloat committed to helping america proceed to build nan champion independent, world and full-service finance banking firm," nan CEO said.
Jefferies Financial Group
Handler explained nan offloading of shares arsenic a "gift to myself and my family."
He is acquiring a 164-foot yacht built by Westport that belongs to billionaire and Fertitta Entertainment proprietor Tilman Fertitta, the Financial Times reported. FOX Business reached retired to Jefferies for comment.
CLICK HERE TO READ MORE ON FOX BUSINESS
Fertitta besides owns a larger, 252-foot yacht that boasts a excavation and helipad, according to Boat International. That newer vessel reportedly came from Feadship.
Houston Rockets proprietor Tilman Fertitta attends nan crippled betwixt nan Atlanta Hawks and Houston Rockets astatine Toyota Center connected November 25, 2022, successful Houston, Texas. (Photo by Marcus Ingram/Getty Images) (Marcus Ingram/Getty Images / Getty Images)
"Haha! Maybe nan champion advertizing for @jefferies is that our customers waste america their ‘smaller boats’ aft they tin easy upgrade! @TilmanJFertitta!" Handler wrote successful a Thursday tweet that included an image of nan book "Where Are nan Customers’ Yachts? Or A Good Hard Look astatine Wall Street" by Fred Schwed Jr.
JEFF BEZOS, LAUREN SANCHEZ ENJOY SUN, SUPERYACHT
The only reasons Handler has ever offloaded Jefferies banal successful nan past were taxes and philanthropy, according to nan finance bank.
More than 10,800 yachts presently exist, according to nan Superyacht Times.
