- Between Monday and Tuesday, the CEO of Amazon sold shares of his company worth 1.95 billion dollars.
- Bezos decided to make this big sale a week after the company revealed its quarterly results.
- Between November 2020 and February this year, the CEO sold Amazon titles worth close to $ 7 billion.
Jeff Bezos had announced in February that he would cease to be Amazon’s CEO for the third quarter of 2021 and, in theory, he had already made this decision for quite some time.
So it’s no coincidence that Bezos is accelerating his stock sales in recent months. Between November 2020 and February this year, the CEO sold more than $ 7 billion worth of shares in his own company.
Now, according to documents filed with the Securities and Exchange Commission, Bezos sold in just two days (Monday and Tuesday) more Amazon shares worth close to $ 2 billion.
As it turned out, on Monday this week the richest man in the world downloaded 1.27 billion dollars in shares while on Tuesday he repeated the operation for 684 million. This gives a total of 1,954 million dollars acquired from the sale of Amazon papers.
What is striking is that the sales were made a week after Amazon reported its quarterly results, which beat Wall Street expectations as its e-commerce business booms. On the other hand, after Bezos sold his shares, the shares are already down $ 50, from $ 3,327 that traded on Tuesday to 3,277 that trade at the moment. While on Monday the shares closed at 3,377, that is, 100 USD more than this Thursday.
According to Bezos himself, the sale of shares is not destined to his vacation plans but to finance his space exploration company, Blue Origin, which continues to grow. What’s more, yesterday it announced that it will launch its first crew of astronauts into space this summer. Bezos also earmarked additional capital for Day One Fund, an organization he launched in September 2018 to provide education in low-income communities and combat homelessness.