Jeff Bezos sells Amazon shares for 3 billion dollars

eff Bezos, founder and administrator of Amazon, one of the largest e-commerce platforms globally, continues to amaze with his business choices, despite the pandemic and despite election days. 

Considering the increasing growth of the company, which in 2020 reached a value of 200.667 billion dollars, Bezos decided to ride the wave of the moment. According to the “Securities and Exchange Commission”, the billionaire businessman would have decided to sell 1 million shares for a total value of 3 billion dollars. The shares sold correspond to 1.8% of his stake. Amazon’s CEO currently owns 10.6% stake in the company. However Jeff Bezos remains the richest entrepreneur with a net worth of approximately 189.6 billion dollars. 

It has been stated that part of the incomes from these sales will be donated to charity. Jeff Bezos has planned to donate 10 billion dollars to Bezos Earth Fund in order to fight climate change and its effects. According to The Atlantic, a percentage of these funds will be addressed to the following organizations: Environmental Defense Fund, Natural Resources Defense Council, World Wildlife Fund and Nature Conservancy. In 2018, Jeff Bezos also promised a 2 billion dollars donation to some organizations that assist needy homeless families. 

This is the third time in a single year that the tycoon is selling his company’s shares. In February, the Amazon giant sold more than 4.1 billion dollars’ worth shares, while in August sold 3.1 billion dollars’ worth shares, reaching 7.2 billion dollars; with this week’s sales the total revenue reaches 10.2 billion dollars year-to-date. This is a much higher number than the 2.8 billion shares sold the previous year. 

For the moment, there have been no statements or explanations from Amazon about the sales just happened. 

Considering the increasing growth of the company, which in 2020 reached a value of 200.667 billion dollars, Bezos decided to ride the wave of the moment. According to the “Securities and Exchange Commission”, the billionaire businessman would have decided to sell 1 million shares for a total value of 3 billion dollars. The shares sold correspond to 1.8% of his stake. Amazon’s CEO currently owns 10.6% stake in the company. However Jeff Bezos remains the richest entrepreneur with a net worth of approximately 189.6 billion dollars. 

It has been stated that part of the incomes from these sales will be donated to charity. Jeff Bezos has planned to donate 10 billion dollars to Bezos Earth Fund in order to fight climate change and its effects. According to The Atlantic, a percentage of these funds will be addressed to the following organizations: Environmental Defense Fund, Natural Resources Defense Council, World Wildlife Fund and Nature Conservancy. In 2018, Jeff Bezos also promised a 2 billion dollars donation to some organizations that assist needy homeless families. 

This is the third time in a single year that the tycoon is selling his company’s shares. In February, the Amazon giant sold more than 4.1 billion dollars’ worth shares, while in August sold 3.1 billion dollars’ worth shares, reaching 7.2 billion dollars; with this week’s sales the total revenue reaches 10.2 billion dollars year-to-date. This is a much higher number than the 2.8 billion shares sold the previous year. 

For the moment, there have been no statements or explanations from Amazon about the sales just happened. 

Leave a Reply

Your email address will not be published. Required fields are marked *

eighteen − 17 =