As president of the intelligence committee, Burr regularly receives information about threats to the United States, including coronavirus. He is also a member of the Senate health committee, which hosted a briefing in January with key Trump administration officials open to all senators.
Apparently this is not the first time that Burr has acted decisively to protect his assets from financial turmoil after hearing government officials. In 2009, he told in a speech how after listening to Treasury Secretary Henry M. Paulson discuss the difficulty of a large company in transferring money between banks, he called his wife and ordered her to withdraw as much money from her accounts as possible out of fear there would be a race for funds.
Three other senators also sold major stakes in the period in which Mr. Burr did so, according to disclosure documents: Dianne Feinstein, Democrat of California, who is also a member of the intelligence committee; James M. Inhofe, Republican of Oklahoma; and Kelly Loeffler, Republican of Georgia.
Mr. Burr’s stock transaction record shows that he and his wife sold 33 different shares on February 13 which are collectively worth $ 628,000 to $ 1.7 million, according to information presented to the Senate secretary. These sales include $ 150,000 worth of shares in two hotel chains, Wyndham Hotels and Resorts and Extended Stay America. The values of both companies have declined significantly in recent weeks. He also sold $ 65,000 worth of shares in Park Hotels & Resorts.
Ms. Feinstein and her husband sold $ 1.5 million to $ 6 million worth of shares in California-based biotech company Allogene Therapeutics in transactions that occurred on January 31 and February 18.
Inhofe sold a large amount of shares – all on January 27 – including holdings in PayPal, Apple and Brookfield Asset Management, a real estate company, with an overall sales value of $ 400,000, according to a disclosure report.
Ms. Loeffler and her husband, Jeffrey C. Sprecher, who is the president of the New York Stock Exchange, have reported 27 million-dollar sales since January 24. On that day, Mrs. Loeffler she tweeted to attend the Senate briefing on the coronavirus. The shares sold by the couple were in companies including Exxon Mobil, Ross Stores and AutoZone.