Press "Enter" to skip to content

Bezos In Offloading Mode; Amazon Stock Worth $1.8bn Sold In Just 3 Days

According to the current federal filings, Inc. CEO and founder Jeff Bezos sold stock worth $1.8 B, in the firm, during the last 3 days of previous month. This deal has reduced the values of Bezos’ stake to about $110 B, in the world’s 3rd most valued company.

As per the forms submitted with the SEC (Securities and Exchange Commission), this sale marked his 1st since last year’s October, when $33 M value of stock was sold by him. Above 900,000 stocks have been sold by him in 3 deals, from July 29 to July 31.The deal fetched him $1,900 per share. Bezos still retains 58.1M stakes in his online retailing company, even after the recent sale.

Bezos’ move was a constituent of an earlier accepted trading pan and was shown in the regulatory filings which also revealed that his ex-wife Mackenzie is now Amazon’s 2nd biggest individual shareholder.

Mackenzie’s share, curtailing from a settlement of a divorce, of the couple’s earlier joint holdings, is now worth over $37 B.

In the company’s history, based on $ value, Bezos’ current sales seems to be largest over quiet a short period. In 2017, reporters were told by Bezos that he has planned to sell nearly $1 B in the company’s stock every year to help funding Blue Origin, his company of space exploration. Bezos and MacKenzie, his former wife, independently, pledged in 2018 to donate $2 B for launching the ‘DOF’ (Day One Fund) for creating preschools and helping homeless families.

Jeff Bezos retained 75% of the pair’s Amazon share and control of voting over MacKenzie’s shares, post the divorce payment with his ex-wife, M. Bezos.

In January, the pair announced their separation in a combined Twitter statement, and the e- retailing firm revealed in the month of April that 19.7 M shares or 4% of its stock would be recorded in Mackenzie’s name after their divorce.

Amazon denied remarking any more on the current filing.

Mary Wade Subscriber
CONTENT WRITER At Global Industry Report

Mary Wade has studied masters in masters in air and space law and is working as a content writer. She writes about space, science, and stargazing. Formerly Mary has worked with one of the top space research institutes in the country. She writes space-related articles and news at our news portal. In leisure time, Mary likes to do doodling and believes that this improves her cognitive skills. She is intelligent with technical background knowledge.

Be First to Comment

Leave a Reply

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