According to the Bloomberg Billionaire Index, Bezos, 61, is the third richest man in the world, with a net worth of US$241.4 billion. He used to use the 10b5-1 plan to sell shares at the scheduled time, and last year he sold 75 million shares throug...
According to the Bloomberg Billionaire Index, Bezos, 61, is the third richest man in the world, with a net worth of US$241.4 billion. He used to use the 10b5-1 plan to sell shares at the scheduled time, and last year he sold 75 million shares through the plan and raised $13.6 billion.
Amazon founder Jeff Bezos sold his Amazon shares for the first time this year, recently selling 3.3 million shares and cashing out about US$736.7 million (about S$938.46 million).
Since 2002, Bezos has sold a total of approximately $44 billion worth of Amazon shares. By contrast, he buys Amazon stock less frequently. He bought Amazon stock for the first time for $114.77 per share just two years ago.
This is the first time Bezos has sold his shares this year. This year he has donated nearly 930,000 shares to nonprofits. In March, Bezos said he donated about $60 million in shares to undisclosed charities. In May, he donated another stock worth about $125 million and in June, he donated another $5 million.
The10b5-1 plan means that in the United States Securities Exchange Act 10b5-1 allows company insiders to sell a specified amount of stock at a predetermined time.
According to Bloomberg, the deal is part of his 10b5-1 trading plan that began in March, with up to 25 million shares available for sale under the plan. Amazon's stock price has risen more than 8% since then, reflecting that Bezos' cashing out timing is synchronized with the overall higher trend of US stocks. Amazon has not responded to related inquiries yet.
