The world’s richest man and Amazon CEO, Jeff Bezos, sold his stake in Amazon.com Inc., for $3 billion. This sale is the latest in a series of sales that now exceed the $10 billion in 2020.
Citing from Bloomberg Thursday (5/11), Bezos sold 1 million shares on Monday and Tuesday under a pre-arranged trading plan. According to a filing by the US Securities and Exchange Commission. Bezos continues to hold more than 10% of the company.
In the 15 years after Amazon.com Inc. going public in 1997, Bezos sold about a fifth of the online retailer’s stock for an estimated $2 billion.
The value of its shares has continued to increase
The value of its shares has soared to such an extent that now a relatively small reduction in its holdings results in a much larger amount.
Amazon shares are up 75% this year, driven by consumers who need to shop from home as the coronavirus pandemic keeps people away from physical stores, and the Seattle-based company is worth more than $1.6 trillion.
Bezos’ net worth has increased by US $ 76.1 billion to US $ 191 billion, according to the Bloomberg Billionaires Index, and his net worth has increased by US $ 10.5 billion on Wednesday alone, one of the biggest increases in a single day.
Bezos’ activities in using his stock sales money
As well as buying trophy properties and owning the Washington Post, Bezos committed $10 billion in February to the “Bezos Earth Fund” to help the effect of climate change.
Bezos has previously said he is funding rocket company Blue Origin with an estimated $1 billion a year through the sale of Amazon stock.
“The price of admission to space is very high,” said Bezos in 2018, while receiving the Buzz Aldrin Space Exploration Award at the Explorers Club Annual Dinner.
“I am in the process of turning my Amazon lottery winnings into a much lower entry ticket price so we can explore the Solar System.”
The biggest blow to Bezos’ fortune was his divorce last year. His ex-wife MacKenzie Scott received a 4% stake in Amazon as part of the split. Scott, now worth $62.3 billion, is the 13th richest person in the world.