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Home / Business / Amidst the chaotic election, Jeff Bezos sold Amazon stock for $ 3 billion

Amidst the chaotic election, Jeff Bezos sold Amazon stock for $ 3 billion



Jeff Bezos, billionaire founder of e-commerce and cloud giant Amazon, sold $ 3 billion worth of Amazon shares on Monday and Tuesday election day, according to new filings with the Securities and Exchange Commission. Securities and Transactions. After tax, Forbes Estimated he will bring home $ 2.3 billion. He remains the richest person in the world with an estimated net worth of $ 1

89.6 billion.

Seven new documents filed with the SEC on Wednesday just as the market was about to close show that Bezos sold exactly 1 million Amazon shares this week, or 1.8% of his stake. He sold when Amazon shares were trading between $ 2,950 and $ 3,075 per share. According to the records, the sale is part of a pre-determined plan to sell Amazon under insider trading law.

This is the third time this year that Bezos has sold billions of dollars in Amazon stock. He currently owns a 10.6% stake in the company. In August, he sold Amazon shares worth $ 3.1 billion. During the first week of February, he sold more than $ 4 billion in Amazon stock. In total, the Amazon founder sold more than $ 10 billion of Amazon stock in just 2020 alone.

Bezos has made many pledges over the past few years when it comes to philanthropy. He announced the $ 10 billion Bezos Earth Fund dedicated to combating climate change in February, though he hasn’t released any details on the donation plan. He also promised $ 2 billion in 2018 to fund existing charities helping homeless families and establishing a network of Montessori-inspired, non-profit preschools for low-income residential areas. The first Bezos Academy opened in October in a town south of Seattle, Washington, where Amazon was located.

Bezos representatives declined to comment on sales.

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I’m a Forbes staff writer. Follow me on Twitter or email me at aau-yeung@forbes.com.




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