- Jeff Bezos is expected to be “aggressive” about selling more Amazon shares on Tuesday, sources told CNBC’s David Faber.
- Bezos could sell up to 8 million to 10 million shares, which would equate to a stock value of around $1 billion, the sources told Faber.
- This comes after Bezos sold around $240 million worth of Amazon shares last week.
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Jeff Bezos is expected to be “aggressive” about selling more Amazon shares on Tuesday, sources told CNBC’s David Faber.
Bezos could sell up to 8 million to 10 million shares, which would equate to a stock value of more than $1 billion, the sources told Faber.
Amazon shares fell about 2.6%.
This came after Bezos sold about $240 million worth of Amazon shares last week, financial filings show. The transactions were marked as donations to nonprofit organizations, the filing said.
It is unclear to whom Bezos donated the shares. A representative for Bezos did not immediately respond to a request for comment.
Bezos — who is the world’s third-richest person with a net worth of about $170 billion, according to Bloomberg — still owns about 988 million Amazon shares, representing a nearly 10% stake in the company.
Since stepping down as Amazon CEO in 2021, Bezos has increased his charitable donations and announced that he plans to give away much of his fortune during his lifetime. Bezos and his fiancée Lauren Sanchez in August pledged $100 million to recovery efforts on Maui after deadly wildfires devastated the Hawaiian island. Bezos has said he sells at least $1 billion worth of Amazon stock every year to fund his rocket startup Blue Origin, and in 2020 he founded the $10 billion Earth Fund, to combat the effects of climate change.
Earlier this month, the Amazon founder and CEO announced that he plans to leave Seattle and move to Miami to be closer to his parents, Sanchez and Blue Origin’s operations.
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Originally posted 2023-11-21 16:34:27.