Fallen Billionaire Down 98% Boosts Stock Sales at Risky Moment (1)

Denis Sverdlov is looking to boost stock sales at a precarious time.

An investment firm for Arrival SA’s founder doubled its sale plans this month, with a notification to offload as many as 40 million shares — about 10% of his stake — in the maker of electric buses and trucks. That happened just days after the company warned it may run out of cash.

Sverdlov was worth $11 billion when he took Arrival public by merging it with a blank-check firm last year, but his fortune has since unraveled rapidly. The 44-year-old, who was still a billionaire at the start of ...