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Jeff Bezos sells $ 2.5 billion of Amazon shares, signals more coming

Jeff Bezos sold roughly $ 2.5 billion from Inc. his first big disposable this year after offloading more than $ 10 billion in 2020.

Bezos sold about 739,000 shares this week under a pre-arranged trading plan, according to documents from the US Securities and Exchange Commission. The world's richest person said he plans to sell up to 2 million shares, according to a separate deposit.

Bezos still owns more than 10% of the company, the main source of his $ 193.5 billion fortune, according to the Bloomberg Billionaires Index.

The Amazon founder used the stock sales to fund rocket company Blue Origin, while also committed to $ 10 billion for the "Bezos Earth Fund" to help counter the effects of climate change.

Jeff Bezos, Inc. stock,Amazon shares,U.S. Securities and Exchange Commission filings,Amazon founder

Within 15 years after Inc. went public in 1997, Bezos sold about a fifth of its online retailers for nearly $ 2 billion. The value of your stake has skyrocketed in recent years with the rise of Amazon shares, which means he can now sell relatively small amounts in billions of dollars. Amazon shares haven't changed much this year after rising 76% in 2020 as the COVID-19 pandemic kept people away from physical stores and encouraged online shopping.

Bezos would have been richer had it not been for his divorce from Mackenzie Scott. She took a 4% stake in Amazon as part of the split and quickly became one of the world's top philanthropists.

Also Read: Infosys to create 1,000 digital jobs in the UK to fuel post-pandemic growth as per News Sources

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