Jeff Bezos Continues To Sell Amazon Shares
Amazon.com Inc.’s founder and Chief Executive Officer Jeff Bezos is continuing his stock selling spree.
According to regulatory filings, the world’s richest man has sold more than 2 million shares of Amazon In the past week, for more than $4 billion.
The latest transaction was disclosed on Friday after Amazon’s stock touched fresh highs. The transactions are part of a pre-arranged trading plan.
According to calculations by Bloomberg, Bezos’ stock sale is now valued at more than $14 billion, with most of the sales occurring during the past four years.
Bezos’ latest stock selling actions come after Amazon closed last Tuesday’s trading session with a market capitalization of $1 trillion, enabling it to join fellow tech giants Apple, Google and Microsoft in the trillion-dollar club.
Even after the latest stock sale, Bezos owns about a 11 percent stake in the e-commerce giant, worth $115.5 billion.
Last year too, Bezos sold $2.8 billion worth of shares in Amazon, in the month of August. At that time, Bezos donated 268 shares to an unnamed non-profit organization. The shares were worth about $500,000.
Bezos has said his plan is to sell stock worth about $1 billion every year to fund his space startup, Blue Origin.
According to reports, Bezos and girlfriend Lauren Sanchez are also hunting for a mega mansion in Bel Air and Beverly Hills. The mega mansion they plan to buy is said to be in the $100 million to $200 million range.
Bezos is also said to have purchased two works of art last November for a combined $71 million.
Recent reports indicate that Bezos has expressed interest in purchasing the streaming rights to World Wrestling Entertainment or WWE content.
WWE’s CEO Vince McMahon said during an earnings call last week that his company is in talks with major streaming companies for selling the rights for WWE pay-per-view events.
Amazon closed Friday’s trading at $2079.28, up $29.05 or 1.42 percent.
Source: Read Full Article