SVE NEWS & CNBC Sharing Series – Jeff Bezos has sold nearly $4.1 billion worth of Amazon shares in the past 11 days

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Jeff Bezos has been cashing out Amazon stock: nearly $4.1 billion worth of shares in the past 11 days.

The Amazon CEO sold $579.8 million worth of shares on Friday, according to filings with the Securities and Exchange Commission. That’s after he sold$1.65 billion worth of shares last Tuesday and Wednesday, as well as unloaded $1.8 billion worth of shares between Jan. 31 and Feb. 3, according to SEC filings.

The transactions were made as part of a prearranged 10b5-1 trading plan, according to the filings. Representatives from Amazon weren’t immediately available to comment on the latest sale.

Bezos has accelerated his stock sales in recent years. Last August, Bezos soldabout $2.8 billion worth of Amazon shares. He also sold large blocks of shares in 2017 and 2016.

Bezos has previously said he’s selling about $1 billion of Amazon stock a year to fund his space exploration company, Blue Origin. He has also earmarked additional capital for the Day One Fund, the organization he launched in September 2018 to provide education in low-income communities and combat homelessness. Last November, the fund awarded $98.5 million in grants to 32 groups.

The stock sales come as Bezos’ lifestyle has become increasingly public. Bezos was at Sunday night’s Academy Awards ceremony. He has been touring mega-mansions in Los Angeles with his girlfriend, Lauren Sanchez, according to the New York Post. Additionally, Bezos grabbed headlines after he bought two works of art in New York auctions last November, Bloomberg reported.

Correction: Bezos has sold $4.1 billion worth of Amazon shares in the past 11 days. An earlier version misstated the length of time.

 

 

Sources from: CNBC

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