Amazon CEO and richest man alive Jeff Bezos Sold almost $1 billion in Amazon shares at the close of last week.
The sales of over 500,000 shares took place on Thursday and Friday of last week, and Bezos is reportedly $990 million richer for it.
According to the Securities and Exchange Commission (SEC), by the end of last week, Bezos had dropped nearly $1 billion worth of his own Amazon stock. Bezos sold 531,852 shares, which represents about 1% of his total stake in the company, for $990 million. He also donated another 268 shares, worth about half a million dollars, to a non-profit organization. The last two days of last week were quite a payday for the world’s richest man.
Bezos dumped shares in his company throughout last week. The first three days of the week also saw him drop 965,612 shares, which netted him about $1.8 billion. Altogether, the world’s richest man just sold 2.5% of his shares in his company. Bezos had reportedly had a trading plan put in place, according to SEC documents. Last week’s massive sale of Amazon stocks comes after little activity from Bezos’ stock since last October. Since then, he hadn’t sold any of his shares, but he did donate some to unnamed non-profits. It is currently unclear why Bezos is selling so many shares all of a sudden.
