Amazon’s Owner Jeff Bezos sold more shares worth more than $ 3 billion Shares of Amazon | Flash News PK
Amazon’s Owner Jeff Bezos sold more shares worth more than $ 3 billion Shares of Amazon
Jeff Bezos sold more than $ 3 billion of Amazon shares this week, taking advantage of a 75% increase in the value of his company this year.
The Amazon CEO hasn't explained why he's selling so many stocks, but he sells his stocks regularly, often using them to fund his space company Blue Origin and other projects.
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Often billionaires with large stakes diversify their portfolios so that they don't have all of their eggs in one basket. Bezos also downloaded a large number of stocks in August and February this year. It sold more than $ 10 billion in Amazon stocks this year, according to OpenInsider's compilation of Amazon regulatory filings. That's more than nearly $ 3 billion in 2019.
Amazon (AMZN) did not immediately respond to a request for comment on the sale of Bezos.
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Bezos has said in the past that it sells nearly $ 1 billion in equity annually to fund Blue Origin, and has pledged to sell more than $ 1 billion this year as it nears commercial operations. It also recently launched a $ 10 billion fund to combat climate change.
Last month, Blue Origin launched its astronaut missile to the edge of Earth's atmosphere. It was the thirteenth test flight of the New Shepherd, as the vehicle is called, but it has yet to fly with humans on board.
According to Index, evven with the massive stock dumping, Bezos remains the richest person in the world.
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