Jeff Bezos, the founder of Amazon, sold 16 million of his shares in the company after the share price reached an all-time high of $200 per share. This recent increase of 7% in the share price of Amazon’s share, followed by the better-than-expected third-quarter earnings report, added $42.8 billion to Bezos’s net worth, making his total net worth $222 Billion.
Total Value Of Stock Sold
According to the regulatory filing, the latest stock sale of shares worth $3 billion brings the total for the founder stock sold in the year to $13 Billion. However, Bezos hasn’t stated any particular reason for selling his stake in Amazon, but according to sources like The Economic Times, these disinvestments are done as Amazon navigates market dynamics and invests in new ventures.
Projects Funded By Amazon
Over the years, Bezos has sold portions of his Amazon stock to finance a variety of projects and ventures, notably his space exploration company, Blue Origin. In 2018, he launched the $2 billion Bezos Day One Fund, dedicated to supporting homeless families and preschool education. According to a February proxy statement, Bezos still holds roughly 10.8% of Amazon’s outstanding shares. Although he continues to be Amazon’s chairman, his attention has increasingly turned to Blue Origin.
