Victoria’s Secret Billionaire Is Selling $745 Million of Stock
- Wexner has already sold about $500 million of L Brands in 2021
- L Brands shares have gained 700% since nadir last year
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Leslie Wexner is unloading about $745 million worth of shares in L Brands Inc., the retailer which includes Victoria’s Secret and Bath & Body Works, bringing his stock sales in the apparel group he founded to $1.2 billion for 2021.
The billionaire is selling stock in the Columbus, Ohio-based retailer through a secondary offering managed by JPMorgan Chase & Co., according to a regulatory filing Thursday. The sale is set to close July 19.