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Jeff Bezos is expected to be “aggressive” in selling more shares Amazon On Tuesday, sources told David Faber.
Sources told Faber that Bezos could sell 8 million to 10 million shares, which would equate to more than $1 billion worth of stock.
Amazon shares closed down about 1.5%.
Bezos unloaded about $240 million worth of Amazon shares last week, according to financial filings. The filing said the transactions were characterized as contributions to non-profit organizations.
It is unclear to whom Bezos donated the shares. A representative for Bezos did not immediately respond to a request for comment.
According to Bloomberg, Bezos — who is the world’s third-richest person with a net worth of about $170 billion — still owns about 988 million Amazon shares, equivalent to a roughly 10% stake in the company.
Since stepping down as Amazon CEO in 2021, Bezos has stepped up his charitable giving, and has said he plans to donate most of his wealth during his lifetime. Bezos and his fiancee Lauren Sanchez pledged $100 million to recovery efforts in Maui after deadly wildfires devastated the Hawaiian island in August. Bezos has said he sells at least $1 billion worth of Amazon stock per year to fund his rocket startup, Blue Origin, and in 2020 he launched a $10 billion Earth Fund to combat the effects of climate change. Did.
Earlier this month, the Amazon founder and executive chairman announced he plans to leave Seattle and move to Miami, which will give him the chance to be closer to his parents, Sanchez, and Blue Origin’s operations.
Watch: This is why Jeff Bezos is leaving Seattle for Miami
