the ceo of silicon valley bank financial sold 36 million in stock two weeks before the california banking giant’s epic crash friday signaling bank officials might have known the bank was in trouble before it reported a nearly 2 billion loss that led to the biggest bank failure since the great recession in 2008 greg becker the ceo of svb financial—the parent of svb—sold nearly 12500 shares for 287 each on february 27 making 36 million in return news of the sale was first broken by barrons friday afternoon just hours after california’s financial regulator closed the bank telling insured depositors they will have full access to their deposits by monday morning becker also acquired the same number of shares at a significantly lower price of 10518 per share according to a securities and exchange commission filing svb did not immediately respond to a forbes inquiry for comment the santa clara californiabased bank had been trying to raise capital and then pivoting to try and find a buyer with its parent company svb financial group on friday hiring advisors to pursue a potential sale following its announcement thursday it had lost 18 billion after selling 21 billion in securities svb financial shares were halted friday morning following a massive premarket selloff that had resulted in shares plunging 64 in premarket trading by 8 am hitting a low of 34 svb announced thursday it had suffered a tax loss of roughly 18 billion after it sold approximately 21 billion of securities in an attempt to raise cash quickly amid challenging market conditions it also announced plans to raise 225 billion through the sale of common and preferred stock hours later venture capital firm founders fund advised companies it backed to withdraw money from svb bloomberg reported while some founders moved their money from svb to other firms including brex and first republic 345 that’s how far the dow jones industrial average fell on friday to a fourmonth low of 31910 finishing its worst week this year as the collapse of svb created a ripple effect on other regional and midsized banks the dow has now dropped by nearly 1500 points this week roughly 4 while the techheavy nasdaq dropped by 18 and the sp 500 fell by 14 svb shut down by california regulator after bank stocks crash amid turmoil forbes silicon valley bank shares halted after plunging 64 in premarket—vc funds tell firms to withdraw funds forbes dow plunges nearly 1500 points in worst week since june as bank stocks collapse forbes what to know about silicon valley bank’s collapse—the biggest bank failure since 2008 forbes