Amazon founder and Chief Executive Officer Jeff Bezos over the final three days of July cashed in some 900,000 shares of Amazon stock worth $1.8 billion, U.S. Securities and Exchange Commission (SEC) filings show.
The sale of stock appears to be the largest amount Bezos has sold over such a short period of time. The filings do not make clear how Bezos plans to use the cash infusion.
He last sold about 20,000 shares worth some $33 million in October of last year, insider trading records show. However, between 2013 and 2017, Bezos sold a total of 8.2 million shares worth some $5.6 billion.
At the time he cashed in the company’s stock in late July of this year, it was trading at about $1,900 per share. But as rich a number as $1.8 billion might be for most mere mortals, for Bezos it’s only a fraction of his net worth, still estimated at $116 billion after the stock sale (some $108 billion from Amazon stock he owns), Forbes reports, which ranks him as the wealthiest person in the world.
Bezos’ recent divorce settlement with his former spouse, MacKenzie, gave her a 25% stake in Amazon, or some 19.7 million shares worth about $37 billion, Bloomberg reported, though Bezos will continue to have voting control over the shares. In 2017, Bezos told the media that he panned to sell $1 billion worth of stock annually to fund his rocket company, Blue Origin.
In addition, in September 2018, in one of his few philanthropic efforts to date, he pledged $2 billion to the Bezos Day One Fund to help provide shelter to homeless families and to launch preschools in low-income areas in the U.S.