Billionaire Les Wexner’s Victoria’s Secret Stock Sales Hits $500 Million
- Sales come weeks after Wexner stepped down from L Brands board
- His stake now makes up about a quarter of $9.7 billion fortune
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Leslie Wexner sold $327 million worth of shares of L Brands Inc. last week, according to a Monday filing, bringing his total stock sales in the beauty and apparel group he founded to $500 million this year.
The moves come weeks after Wexner, 85, and his wife, Abigail, announced plans to step down from the Columbus, Ohio-based retailer’s board following Wexner’s retirement as chief executive officer last year.