Amazon CEO Bezos is selling nearly two billion dollars worth of Amazon shares


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Saul Loeb | AFP | Getty Images

Amazon CEO Jeff Bezos sold shares in his company worth nearly $ 2 billion this week, according to submissions made by the Securities and Exchange Commission OpenInsider.

Bezos sold shares of Amazon worth about $ 684 million on Tuesday, data show, after landing shares worth about $ 1.27 billion on Monday. That means it has sold Amazon shares worth about $ 1.95 billion in the past two days.

The transactions were executed as part of a pre-agreed trading plan 10b5-1, according to the records. Amazon representatives were not immediately available to comment on the latest sale.

The sale comes a week after Amazon reported earnings results in the first quarter, undermining Wall Street expectations, as its business continues to support a sharp rise in e-commerce fueled by the pandemic.

Bezos has accelerated stock sales in recent years, having previously landed nearly $ 4.1 billion worth of shares last February. Bezos sold more than Amazon shares worth $ 3 billion last year.

The Amazon founder previously said he would sell about $ 1 billion worth of Amazon shares each year to fund his space exploration company Blue Origin, which continues to grow, and on Wednesday announced will launch its first crew of astronauts into space this summer. Bezos also allocated additional capital to the First Day Fund, an organization he launched in September 2018 to provide education in low-income communities and fight homelessness. Last November, the fund rewarded $ 98.5 million in grants for 32 groups.

These initiatives are expected to become a bigger focus for Bezos after stepping down in the third quarter. Bezos will hand over the helm to AWS CEO Andy Jassy and take on the role of CEO on Amazon’s board.

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