Jefferies CEO Sells $65 Million in Stock for Luxury Yacht Purchase

Rich Handler, CEO of Jefferies, divests a portion of his shares to buy a high-end yacht, affirming his continued bullish stance on the company.

Jefferies CEO Rich Handler sold $65 million worth of company shares to purchase a luxury yacht from a client and longtime friend.
Handler, who joined Jefferies in 1990, sold 1.5 million shares, representing 7% of his holdings, marking his first significant stock sale outside of charitable or tax purposes.
The yacht purchased is a Westport 164, sold by Tilman Fertitta, a billionaire and owner of the NBA's Houston Rockets.
Despite the sale, Handler remains optimistic about Jefferies' future, holding onto about 19.25 million shares and not planning further sales.
Handler's compensation has largely been in the form of company stock, accounting for about 70% of his pay since joining the firm.