How much Silicon Valley bankers and investors have lost in the epic crisis

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Reassurances from the federal government that SVB Financial Group’s depositors would not lose their assets helped contain some of the effects of the shocking collapse of a key financial institution on the tech sector.

However, one group that will not be merged is investors and executives, all of whom have been fired. On Monday, that message came from President Joe Biden himself, who expressed confidence in the banking system and bad luck for those who invested in the doomed bank.

“They deliberately took a risk, and when the risk doesn’t pay off, investors lose their money,” Biden said in his speech on Monday. “That’s how capitalism works.”

Here’s a rundown of how much the bank’s largest shareholders lost in the collapse, based on a March 8 close price of $267.83, two days before regulators stepped in and took control of the company.

Many of the largest owners are large investment groups and money managers such as pension funds. The top five SVB owners as of the end of last year included:

• Vanguard Group Inc., which owned 6.41 million shares, equivalent to $1.71 billion.
• State Street Global Advisors Funds Management Inc., which owned 3.08 million shares, equivalent to $824 million.
• BlackRock Fund Advisors, which owned 3.06 million shares, equivalent to $819.5 million.
• Alecta Pension Insurance Mutual, which owned 2.63 million shares or $704 million.
• JPMorgan Investment Management, which owned 2.17 million shares or $581 million.

Several top SVB executives sold shares in the weeks leading up to the bank’s closure. CEO Greg Becker sold $3.57 million worth of stock and CFO Daniel Beck sold $575,180 worth of shares in prearranged share sales.

Here are the top five individual shareholders among SVB executives:

• CEO Greg Becker, who last reported owning 92,552 shares, equivalent to $24.78 million.
• SVB President Michael Deschenault, who last reported holding 25,489 shares, equivalent to $6.82 million.
• Specialty Commercial Banking head Joan Parsons, who last said she owns 23,617 shares, equivalent to $5.83 million.
• SVB Capital President John Chyna, who last reported owning 22,580 shares, equivalent to $6.04 million.
• Chief credit officer Mark Cadier, who last reported holding 15,274 shares, equivalent to $4.39 million.

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