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Jeff Bezos Dumps $3B More of Amazon Stock, Totals $10B This Year

Jeff Bezos Dumps $3B More of Amazon Stock, Totals $10B This Year
(Getty)

By    |   Wednesday, 04 November 2020 08:49 PM

Jeff Bezos reportedly recently dumped $3 billion more of Amazon.com Inc. stock, the latest in a series of sales that now exceed $10 billion this year.

Bezos unloaded 1 million shares on Monday and Tuesday under a pre-arranged trading plan, according to filings with the Securities and Exchange Commission compiled by OpenInsider

Even with the latest stock sale, Bezos still owns more than 10% of the company, or 53 million shares worth nearly $170 billion, making him the richest person in the world.

The transactions were made as part of a prearranged 10b5-1 trading plan, according to the filings, CNBC reported.

In the 15 years after Amazon.com went public in 1997, Bezos sold about a fifth of the online retailer for roughly $2 billion, Bloomberg said.

The value of his stake has surged to such an extent that now comparatively small reductions in his holdings are bringing in vastly larger amounts.

Amazon shares (AMZN) closed Wednesday at $3241.16, up $192.75, or 6.32%.

Amazon stock is up 75% this year, driven by consumers needing to shop from home as the coronavirus pandemic kept people away from physical stores, and the Seattle-based company is worth more than $1.6 trillion.

Bezos’s wealth has risen $76.1 billion to $191 billion, according to the Bloomberg Billionaires Index, and his net worth increased by $10.5 billion on Wednesday alone, one of the largest single-day increases.

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Jeff Bezos reportedly recently dumped $3 billion more of Amazon.com Inc. stock, the latest in a series of sales that now exceed $10 billion this year.
jeff bezos, amazon, stock, sells, shares
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2020-49-04
Wednesday, 04 November 2020 08:49 PM
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