Jeff Bezos sells more than $3 bn of Amazon stock

Source :IANS
Author :IANS
Last Updated: Thu, Nov 5th, 2020, 17:30:24hrs
Jeff Bezos

San Francisco: Amazon Founder and CEO Jeff Bezos has sold more than $3 billion worth of Amazon shares this week, according to new filings with the US Securities and Exchange Commission (SEC).

This latest round of Amazon share sales on Monday and Tuesday take the worth of Amazon shares that Bezos has sold in 2020 alone to over $10 billion.

This marks a significant jump from last year when Bezos sold $2.8 billion worth of shares, CNBC reported on Wednesday.

According to Forbes, Bezos now owns a 10.6 per cent stake in the e-commerce and cloud computing colossus Amazon.

The latest stock sales are part of a predetermined plan in accordance with insider trading laws, according to the filings with the SEC.

This is the third time this year that the world's richest person has sold Amazon shares worth billions of dollars.

The earlier two transactions include the sale of $3.1 billion worth of Amazon shares in August and the sale of over $4 billion of Amazon stock in February.

According to a Forbes report on Wednesday, the Amazon CEO remains the world's richest person with an estimated net worth of $189.6 billion.