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Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days

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On Wednesday evening, hours after the stock markets had closed, Amazon founder and chief executive Jeff Bezos filed paperwork with the Securities Exchange Commission which showed he had sold $1.8 billion worth of Amazon shares over the final three days of July. After taxes, he will net about $1.4 billion.

Bezos sold slightly more than 900,000 shares of Amazon between July 29 and July 31, when the e-commerce behometh’s stock price was around $1,900 a share. His net worth is now $115 billion, using Wednesday’s closing share price.

The last time that Bezos sold Amazon shares was in October 2018. 

READ MORE | Jeff Bezos And Elon Musk Want To Get To The Moon—They Just Disagree On How To Get There

The new filings also show that Bezos has given his ex-wife MacKenzie 25% of his Amazon stake, or 19.7 million shares. In April, as the couple announced they were getting divorced, Mackenzie tweeted that Jeff would keep 75% of his Amazon stake.

Jeff Bezos will continue to exercise voting control over the 19.7 million shares of Amazon he transferred to his wife, according to an SEC filing in April. Her Amazon shares are worth nearly $36.8 billion, making her the third richest woman in the world.  

Jeff Bezos has sold large chunks of Amazon stock before, but this appears to be the largest sale, measured in dollars. Bezos sold Amazon stock worth $1.7 billion in 2017 in two separate transactions in May and November of that year. It was reported that Bezos planned to sell $1 billion worth of stock every year to fund Blue Origin, his space exploration company. 

READ MORE | Jeff Bezos To Give MacKenzie 25% Of His Amazon Stake, Worth Tens Of Billions, In Divorce

A spokesman for Amazon has not responded to requests for comment regarding the purpose of Bezos’ latest stock sale.

Bezos has done little in terms of philanthropy so far. In September 2018, he announced the Bezos Day One Fund, a $2 billion pledge for two causes: helping homeless families find shelter and creating Montessori-inspired preschools in the U.S. 

-Angel Au-Yeung; Forbes

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The post Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days appeared first on Forbes Africa.

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