World’s Rich Pocket $1 Billion With Big Sales of Surging Stocks

Members of the world’s super-rich are electing to take cash off the table as stocks repeatedly test new highs, offloading more than $1 billion of shares in recent weeks.

A scion of Germany’s Viessmann dynasty last week sold about $750 million of Carrier Global Corp., a Florida-based maker of air conditioning equipment, while Danish tycoon Henrik Lind offloaded the equivalent of roughly $175 million in facility manager ISS A/S. Chris Ellison, founder of Mineral Resources Ltd., pocketed A$122.5 million ($87 million) from the sale of about 10% of his stake in the Australian mining services business ...