Jeff Bezos.
Andrew Harrer/BloombergJeff Bezos, billionaire founder of e-commerce and cloud computing colossus Amazon, sold $3 billion worth of Amazon shares on Monday and Election Tuesday, according to new filings with the Securities and Exchange Commission. After taxes, Forbes estimates he will take home $2.3 billion. He remains the richest person in the world with an estimated net worth of $189.6 billion.
Seven new documents filed with the SEC on Wednesday just as markets were about to close showed Bezos sold exactly 1 million shares of Amazon this week, or 1.8% of his stake. He sold when Amazon stock was trading between $2,950 and $3,075 per share. According to the filings, the sales are part of a predetermined plan to sell Amazon in accordance with insider trading laws.
This is the third time this year that Bezos has sold billions of dollars of Amazon shares. He now owns a 10.6% stake in the company. In August, he sold $3.1 billion worth of Amazon shares. In the first week of February, he sold over $4 billion worth of Amazon shares. In total, the Amazon founder has sold over $10 billion worth of Amazon shares in 2020 alone.
Bezos has made various commitments in the last few years when it comes to charity. He announced a $10 billion Bezos Earth Fund dedicated to fighting climate change in February, though he has not announced any details about the planned giving. He also promised $2 billion in 2018 to fund existing charities helping homeless families, and to start a network of nonprofit, Montessori-inspired preschools for low-income neighborhoods. The first Bezos Academy opened in October in a town south of Seattle, Washington, where Amazon is based.
A representative for Bezos declined to comment on the sales.
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November 05, 2020 at 06:46AM
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Amid Election Chaos, Jeff Bezos Sells $3 Billion Worth Of Amazon Shares - Forbes
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