Jeff Bezos sells $1.8 billion worth of Amazon stock in three days

Jeff Bezos sells $1.8 billion worth of Amazon stock in three days

access_time2019-08-02 09:00:31

Amazon CEO Jeff Bezos sold more than $1.8 billion worth of shares in the company in the final three days of July, new federal filings show.

The sale marked Bezos’ first since October of last year, when he sold $33 million worth of stock, according to forms filed with the Securities and Exchange Commission. This time, Bezos sold more than 950,000 shares over three sales between July 29 and July 31 at a price of about $1,900 per share. After the most recent sale, Bezos still owns 58.1 million shares in Amazon.

The sale appears to be Bezos’ largest over such a short period in the history of the company based on dollar value. Bezos told reporters in 2017 that he plans to sell about $1 billion in Amazon stock each year to fund his space exploration company, Blue Origin. Separately, Bezos and his now ex-wife MacKenzie pledged $2 billion in 2018 to launch the “Day One Fund” to help homeless families and create preschools.

In his divorce settlement with his wife MacKenzie Bezos, Jeff Bezos kept 75% of the couple’s Amazon stock and voting control over MacKenzie Bezos’ shares.


Amazon declined to comment further on the recent filings.

After the sale, Bezos’ net worth will be about $115 billion, Forbes estimated.

CNBC


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