Jeff Bezos sells $2.5 billion of Amazon and alerts extra coming


Jeff Bezos offered about $2.5 billion of com Inc. inventory, his first massive disposal this yr after offloading greater than $10 billion value of shares in 2020.

Bezos offered round 739,000 shares this week below a pre-arranged buying and selling plan, in accordance with U.S. Securities and Alternate Fee filings. He plans to promote as many as 2 million shares, in accordance with a separate submitting.

The world’s richest individual continues to carry greater than 10% of com, the first supply of his $191.3 billion fortune, in accordance with the Bloomberg Billionaires Index.

Within the 15 years after com went public in 1997, Bezos offered a couple of fifth of the web retailer for roughly $2 billion. The worth of his stake has ballooned lately to such an extent that he can now promote comparatively small quantities for billions of {dollars}.

Amazon is little modified this yr after rallying 76% in 2020 because the Covid-19 pandemic saved individuals away from bodily shops and inspired on-line procuring.

The Amazon founder has used gross sales to fund rocket firm Blue Origin, whereas he’s dedicated $10 billion to the “Bezos Earth Fund” to assist counter the consequences of local weather change.

The rocket maker stated Wednesday it has set July 20 for its first mission carrying individuals to area and plans to public sale off one seat on its New Shepard rocket.

Bezos could be far richer if it weren’t for his divorce from MacKenzie Scott. She obtained a 4% stake in Amazon as a part of the cut up and shortly grew to become one of many world’s most necessary philanthropists.

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