Jeff Bezos Sold Amazon stock Worth $1.8 Billion in the Last Three Days of July

On Wednesday night, a few hours after the stock market closed, Amazon founder and CEO Jeff Bezos submitted a document to the Securities Exchange Commission. It shows that he sold Amazon stock worth $1.8 billion in the last three days of July. After the tax, he will earn a net profit of about $1.4 billion.

Bezos sold more than 900,000 shares of Amazon stock from July 29 to July 31, when Amazon’s share price was about $1,900 per share. Based on Wednesday’s closing price, Bezos’ current net assets are $115 billion.

Jeff Bezos

The last time Bezos sold Amazon stock was in October 2018.

The documents submitted by Bezos also show that he has already handed over 25% of Amazon’s shares, or 19.7 million shares, held by his ex-wife MacKenzie. A document filed by the US Securities and Exchange Commission (SEC) in April showed that Jeff Bezos would continue to exercise voting rights on the 19.7 million shares of Amazon that he transferred to his wife. Her stock at Amazon is worth nearly $36.8 billion, making her the third richest woman in the world.

Also Read: Amazon “Destroyed” US Retail Industry

Jeff Bezos had previously sold a large number of shares of Amazon. But this time seems it is the biggest. In May and November 2017, Bezos sold Amazon’s $1.7 billion stock through two separate transactions. According to reports, Bezos plans to sell $1 billion worth of stock each year to fund his space exploration company Blue Origin.

A spokesperson for Amazon did not respond to requests for comment on the recent sale of shares by Bezos.

Source

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