Jeff Bezos sold $1.8B worth of Amazon stock as market value topped $1T

Jeff Bezos sold $1.8B worth of Amazon stock as market value topped $1T


Jeff Bezos, the richest person in the world, just got richer. 

Bezos, the chief executive of Amazon, cashed out of his shares as the stock skyrocketed recently. He sold more than $1.8 billion of shares in his company over the past week, new filings with the Securities and Exchange Commission show.

He began selling his shares on Jan. 31 through Feb. 3, according to a pre-arranged sales plan. Bezos sold a total of 905,456 shares in the company for $1.84 billion, the filings show.

To be sure, Bezos has made similar sale disclosures in the past. Last summer he sold nearly $3 billion of his stock. Bezos has previously said that he would sell $1 billion in stock each year to fund his space exploration company, Blue Origin. Bezos still owns about 12% of Amazon. 

Secret debts:Why are we hiding our personal finances from loved ones?

Taxes 2020:When to file and what changes to expect

Amazon Founder and CEO Jeff Bezos addresses the audience during a keynote session at the Amazon Re:MARS conference on robotics and artificial intelligence at the Aria Hotel in Las Vegas, Nevada on June 6, 2019. (Photo by Mark RALSTON / AFP)        (Photo credit should read MARK RALSTON/AFP via Getty Images)

The disclosure comes after Amazon’s market value eclipsed $1 trillion, a threshold it first touched in 2018. The company joins three other tech peers to top the milestone including Apple, Google parent company Alphabet and Microsoft.

Shares have jumped 11% so far this year, outpacing a 3% rise in the broader Standard & Poor’s 500.

Amazon shares have soared over the past week after the e-commerce giant delivered fourth-quarter earnings results on Thursday that topped analysts’ expectations.


Source link

Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

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