The Amazon CEO doesn’t explain why he sold so many shares, but he regularly sells off his stock, often using it to fund his space company Blue Origin and projects. other business projects.
Billionaires with a large stake often diversify their portfolios so they don’t have all their eggs in one basket. Bezos also sold off a large number of shares in August and February of this year. He sold Amazon shares worth more than $ 10 billion this year, according to OpenInsider’s aggregate of Amazon’s legal filings. This is up from nearly $ 3 billion in 2019.
In the past, Bezos said he sold shares worth about $ 1
billion a year to fund Blue Origin, and he has pledged to sell more than $ 1 billion this year as the company moves closer to commercial operations. trade. He also recently launched a $ 10 billion fund to combat climate change.
Last month, Blue Origin launched its space-travel rocket to the edge of Earth’s atmosphere. It marks New Shepard’s 13th test flight, as the vehicle’s name suggests, but it has yet to fly with humans on board.
According to the Bloomberg Billionaires Index, Bezos is still the richest man in the world. His net worth is $ 191 billion, up $ 76 billion since the beginning of the year.