Airbnb cofounder and board-member Joe Gebbia is on a selling spree. According to SEC filings, he has sold his shares for more than $360,000,000 on 13 different days since January.
Gebbia is a co-founder of Airbnb along with Nathan Blecharczyk and CEO Brian Chesky. They have voting and nomination agreements that allow them to control the board of directors and almost all strategic decisions made by the company.
This is true even after Gebbia sold his Airbnb shares, which were only about 7%. As of June 9, when Gebbia made his most recent sale, the market value of Gebbia’s Airbnb shares was approximately 7% of his total holdings.
