Amazon’s Jeff Bezos Cashes in $1.8B in Stock Over Three Days in July

Even after the stock sale, he remains the richest dude on the planet
Updated: Thu, 08/01/2019 - 11:30
 
 
  • Even after the stock sale, he remains the richest dude on the planet

Amazon founder and Chief Executive Officer Jeff Bezos over the final three days of July cashed in some 900,000 shares of Amazon stock worth $1.8 billion, U.S. Securities and Exchange Commission (SEC) filings show.

The sale of stock appears to be the largest amount Bezos has sold over such a short period of time. The filings do not make clear how Bezos plans to use the cash infusion.

He last sold about 20,000 shares worth some $33 million in October of last year, insider trading records show. However, between 2013 and 2017, Bezos sold a total of 8.2 million shares worth some $5.6 billion.

At the time he cashed in the company’s stock in late July of this year, it was trading at about $1,900 per share. But as rich a number as $1.8 billion might be for most mere mortals, for Bezos it’s only a fraction of his net worth, still estimated at $116 billion after the stock sale (some $108 billion from Amazon stock he owns), Forbes reports, which ranks him as the wealthiest person in the world.

Bezos’ recent divorce settlement with his former spouse, MacKenzie, gave her a 25% stake in Amazon, or some 19.7 million shares worth about $37 billion, Bloomberg reported, though Bezos will continue to have voting control over the shares. In 2017, Bezos told the media that he panned to sell $1 billion worth of stock annually to fund his rocket company, Blue Origin.

In addition, in September 2018, in one of his few philanthropic efforts to date, he pledged $2 billion to the Bezos Day One Fund to help provide shelter to homeless families and to launch preschools in low-income areas in the U.S.

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