Jeff Bezos, Founder and CEO of Amazon, sold about $1.8 billion worth of his shares in the company between 29th July and 31st July. This sale is being noted as his first sale in 2019 with which Jeff’s net worth will be $115 billion.
According to the records of Securities and Exchange Commission, Jeff’s previous sale was of worth $33 million in October 2018. This time, he sold more than 900,000 shares at $1900 per share in three sales within three days. Still, he owns a large count of 58.1 million shares in the company.
The recent sale has been noted as Jeff’s largest sale over a short term in company’s history that is based on dollar value.
According to a statement of Jeff which was recorded in 2017, he had planned to sell about $1 billion worth of his Amazon stock each year to fund Blue origin, his another company that focuses on space exploration.
On social media Jeff has stated, “I like long-term—it’s a huge lever: Blue Origin, Amazon, Washington Post—all of these are contributing to society and civilization in their own ways.” He added, “But I’m thinking I want much of my philanthropic activity to be helping people in the here and now—short term—at the intersection of urgent need and lasting impact.”
Jeff kept 75% of the couple’s shares in the company and voting control over his ex-wife’s shares, in the divorce settlement with MacKenzie. With the rest 25 % shares worth of $36.8 billion, she achieves a title of ‘World’s Third Richest Woman’. Ms MacKenzie has announced to donate her half of the amount to the ‘Giving Pledge’, the philanthropic campaign of investor Warren Buffett. Amazon has denied to comment on the purpose of the latest stock sale.
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