Amazon founder and CEO Jeff Bezos has sold more than $3 billion worth of shares that he owns in his company within this week, according to the new filings with the Securities and Exchange Commission.
Jeff Bezos, the billionaire founder and CEO of e-commerce giant Amazon, has sold more than $3 billion worth of shares that he owns in his company, according to the new filings with the Securities and Exchange Commission.
The latest round of sales on Monday and Election Tuesday came as the leading cloud computing firm witnessed a 75% surge in its value this year despite the pandemic.
The billionaire tech entrepreneur’s move takes his total cash-out to more than $10.2 billion in 2020, compared with last year when he only sold $2.8 billion worth of Amazon shares.
Despite the massive stock sale, Bezos still sits as the richest person in the world. He still owns about 53 million shares in Amazon that worth at least $170 billion.
Amazon has not responded immediately to a request for comment regarding Bezos’ large offload of shares, but the tech entrepreneur has been very transparent with his scheme to raise fund through selling his stock profits for his space exploration start-up, Blue Origin.
In February, the Amazon CEO also provided $10 billion for Bezos Earth Fund – an organization that he launched on February 17 which aims to help in fighting against the global climate change.