Jefferies CEO Rich Handler sold $65 million worth of stock in the company to buy a yacht, reportedly from the billionaire Tilman Fertitta.
Rich Handler is preparing to cruise the high seas.on Wednesday. It’s the first time Handler has sold stock for something other than tax purposes and charitable donations, according to a statement from Jefferies cited by the outlet.Forget Pools. This New 131-Foot ‘Mini-Megayacht’ Is Fronted by an Infinity Jacuzzi.“My sale of shares today was a gift to myself and my family, and I do not intend to sell any further shares,” Handler said.
Handler offloaded 1.5 million shares at the price of $43.50 each, Bloomberg noted—about 7 percent of his aggregate holdings. Following that sale, he now owns some 19.25 million shares in Jefferies, which he has accumulated during his 34 years at the company. Along with the yacht, Handler will use the profits from the recent sale to pay tax obligations., a person familiar with the transaction who asked to remain anonymous told Bloomberg. Fertitta, who’s worth $11.
“When we’re sitting around at night and talking and I think Rich is getting too big for his britches just because he’s worth a billion dollars now, I pull out my financial statements and put him back in his place,” Fertitta said at the time. The two businessmen have also collaborated on their own companies: Eight years ago, their Landcadia Holdings went public, Bloomberg noted. And their Landcadia Holdings III merged with a hardware supplier to become Hillman Solutions. Now, with the yacht transfer, they seem to be working together on a deal of a more personal nature.
Fertitta has previously taken Handler out for a spin on the water, and now it seems like Handler will be able to return the favor—maybe even on the same vessel.Tori Latham is a digital staff writer at Robb Report. She was previously a copy editor at The Atlantic, and has written for publications including The Cut and The Hollywood Reporter. When not…Forget Pools. This New 131-Foot ‘Mini-Megayacht’ Is Fronted by an Infinity Jacuzzi.
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