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Jeff Bezos sells $2.5 billion worth of Amazon stock, may offload more: Report

In 2020, Jeff Bezos had shed $10 billion worth of shares of Amazon.

May 06, 2021 / 01:38 PM IST
Amazon CEO Jeff Bezos

Amazon CEO Jeff Bezos

Jeff Bezos sold about $2.5 billion worth of Amazon stock, his first major share sale in 2021.

Bezos, the world's richest person, sold around 739,000 shares of Amazon this week under a pre-arranged trading plan, Bloomberg reported citing US Securities and Exchange Commission filings.

Bezos plans to sell up to two million shares of Amazon, the business news website reported citing a separate SEC filing.

Also read: Blue Origin opens up bidding for first 'spectacular' space tourism trip in July

In 2020, the Amazon founder had shed $10 billion worth of shares of the company. He continues to have a stake of over 10 percent in the company.

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According to the Bloomberg Billionaires Index, the bulk of Bezos' $191.3 billion fortune comes from his stake in Amazon.

Amazon shares had rallied 76 percent in 2020, as people stayed indoors and shopped online due to the pandemic. The share price of the e-commerce giant is little changed this year, the report said.

According to the report, Bezos has used the money from the share sales to fund his rocket company Blue Origin and has committed $10 billion to the "Bezos Earth Fund" to fight climate change.
Moneycontrol News
first published: May 6, 2021 01:38 pm

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