Best Buy Founder Sells and Gifts Shares Worth $27.8 Million Amid Rising Stock Price
Richard M. Schulze, Chairman Emeritus of Best Buy Co., Inc. (BBY), sold 300,000 shares for approximately $27.8 million through a family foundation while also gifting another 300,000 shares from his revocable trust on September 16, 2026. The transactions were reported via an SEC Form 4 filing and occurred as Best Buy's stock reached new heights, closing at $92.45 that day with a one-year total return of 25%. Schulze continues to hold over 11 million shares indirectly through various trusts and retirement accounts, valued at around $1 billion based on the latest market close. The sale took place amid strong performance for Best Buy's stock, which hit a 52-week high shortly after the transaction. The company maintains a robust presence in North America with a diverse product portfolio spanning consumer electronics and mobile technology. Despite Schulze’s recent transactions, his substantial remaining stake suggests continued alignment with long-term shareholder interests.
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Topics: Best Buy gift of shares SEC Form 4 stock sale