Days before the coronavirus outbreak hit the U.S., a group of GOP Senators received a private briefing on the severity of the health crisis. At that time, the stock market was on an upward trajectory. On March 2nd., the Dow Jones Industrial Average set its biggest-ever point gain.
However, Sen. Ron Johnson (R-WI), who has a net worth estimated at over $36 million, was massively selling his stocks and made a major transaction.
The exact amount is unknown, as ethics forms only require disclosure in broad ranges, but Johnson reported selling over $5 million that day — and potentially up to $25 million.
Johson made the transaction after receiving a classified briefing on the incoming pandemic.
In a report filed today, Sen. Ron Johnson R-WI with a very large stock sale earlier this month. pic.twitter.com/c9QbjYOcPa
— Jamie Dupree (@jamiedupree) March 20, 2020
Johnson is now the third Republican Senator caught dumping stock before the market crash.
Sen. Richard Burr (R-NC) and Sen. Kelly Loeffler (R-GA) also reported dumping stock before the market went bad.