Jeff Bezos sells Amazon’s one million shares, worth more than $3 billion

This is the third such instance in 2020 when the billionaire had sold Amazon shares, in transactions amounting to more than $10 billion, lowering his stake in the company by 10.6 percent.

Jeff Bezos, CEO of e-commerce giant Amazon, has sold shares worth more than $3 billion worth of the company, as per the information by the media reports, citing regulatory filings. As per the reports, citing documents filed with the Securities and Exchange Commission, earlier this week, Bezos sold a total of 1 million shares amounting to 1.8 percent of his total holdings in the e-commerce giant.

The transactions were dated as of November 2 and 3, and there was no information about who bought the shares. After deducting the estimated taxes, Bezos will receive an amount of $2.3 billion. Bezos still stands strong on the spot of world’s richest person even after selling some of his holdings. Forbes estimated his net worth to be $189.6 billion.

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This is the third such instance in 2020 when the billionaire had sold Amazon shares, in transactions amounting to more than $10 billion, lowering his stake in the company by 10.6 percent.

In February and August, Bezos had sold Amazon shares of worth $4 billion and $3.1 billion respectively. Those transactions are reported to be a part of a pre-arranged plan to sell Amazon shares in accordance with the insider trading laws.

According to sources, Bezos is planning on providing $100 million to four environmental groups, each – the Nature Conservancy, the Environmental Defense Fund, the Natural Resources Defense Council, and the World Wildlife Fund.