Let's consider three different billionaires: Jeff Bezos, Bill Gates and Warren Buffett. Now let's say the three of them (at different times) decided that they want to liquidate all their assets and get as much physical cash as possible. At what rate should they start selling their shares to end up with as much cash as possible?
I understand that this might depend on the stock trading volume but I can't really find the numbers.
I found in this article that Bill Gates sold $1.5 billion worth of Microsoft shares in 2015, so would that be the maximum? If not, then at what rate can each of those billionaire liquidate his assets without significantly affecting the stock price and thus affecting his own net worth?