Amazon (NASDAQ:AMZN)’s CEO Jeff Bezos the richest man on planet has sold shares of worth around $4 billion within a week since January 31st according to SEC Filings. Jeff Bezos started selling shares from the last Friday.
The Richest man on earth and Amazon CEO Jeff Bezos has sold shares of worth around $4 billion just within a week, while still carrying about 11% or $116 billion stake in the trillion-dollar juggernaut.
SEC Filings reported 905,456 shares that Jeff Bezos sold over previous Friday and Monday trading sessions. It was decent timing as the stock went over $1 trillion after the earnings report beating the expectations, the stake Bezos sold was worth $1.8 billion. While he sold 810,912 shares on Tuesday and Wednesday for the cash out of $1.65 billion.
The sale of worth 4 billion dollars represents just over 3% of his total stake in the company. Bezos’s total stock sales more than $14 billion with majority selloff in last 4 years. With the tax cut he will be carrying liquidity of worth $3.1 billion from recent selloff.
According to Forbes, Bezos now holds net worth of $126.9 billion while adding the liquid assets. Nonetheless, his net worth makes him $14.5 billion ahead of his richest runner up Bill Gates. The 2 million Amazon shares that he sold within few days still a very small number as compared to his total holding of 55.55 million shares in the company. He still carries about 11% of stake in the trillion-dollar consumer sector juggernaut.
Amazon stock has climbed 8% during 2020 and traded at $2,056.23 on Friday trading session. Amazon currently values $1.02 trillion on the closing of last trading session.
Bezos announced publicly in 2018 that he would sell Amazon shares to fund each year around $1 billion to his private space flight company named Blue Origin which recently posted jobs for the lunar lander program. His statements back in 2018 notes, “The price of admission to space is very high.” He further added, “I’m in the process of converting my Amazon lottery winnings into a much lower price of admission so we can go explore the solar system.”
56 years old billionaire and Amazon CEO sold $2 billion worth of shares in 2018 and $2.8 billion in 2019 but this year’s sales have beaten his previous sales by a clear margin