You are here

Wirecard's Braun dumps stock, joins rank of ex-billionaires

Former CEO has disposed of 5.5m shares, which leaves him with 3% stake valued at roughly US$60m

Mr Braun, 51, pledged about half of his stake in December 2017 to secure a 150 million-euro credit line. That loan was provided by Deutsche Bank AG, which has since divested it.

Aschheim, Germany

MARKUS Braun started last week with a US$1 billion stake in Wirecard AG, the digital payments company he ran. By the end of the week he was out of his job as chief executive officer and more than half his shares had been liquidated to meet a margin call.

Mr Braun...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to