Thu, 11/05/2020 – 13:04
The sale of stock brings his running total of stock sales just for 2020 to more than $10.2 billion, according to CNBC. Bezos still owns more than 53 million shares, currently valued around $170 billion, even after the sale.
The acceleration in stock sales for Bezos could be due to a number of things. Bezos has claimed he needs to sell $1 billion in stock per year to fund his rocket company startup, Blue Origin.
Bezos also launched a $10 billion “Earth Fund” earlier this year to help combat the effects of climate change. That organization needs capital to issue grants to scientists and other organizations. Bezos is also expected to make donations of $100 million each to the Nature Conservancy, the Environmental Defense Fund, the Natural Resources Defense Council and the World Wildlife Fund.
And then, of course, there’s ground to make up from Bezos’ $38 billion divorce settlement from mid 2019. His ex-wife is now the world’s richest woman, as we noted in September.
Her wealth grew with Bezos’ during the pandemic, as is noted in this chart from the summer. Since late summer, Amazon has risen about another 15%.
Recall, just a couple of months ago in August, Bezos had sold another tranche of $3 billion worth of stock, we noted. Bezos also dumped $1.8 billion worth of stock back between January 31 and February 3.
Bloomberg calculated back in February that in the 15 years after Amazon went public, Bezos sold a fifth of the company for $2 billion. Today, a fifth of the company would amount to roughly $324 billion.
Other recent transaction by Bezos include the sale of $2 billion in 2017 and $2.8 billion in 2019.
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Author: Tyler Durden