Bezos, the richest man on earth, is now worth an estimated $110.1 billion.

Jeff Bezos sells Amazon shares worth 990 million makes roughly 750 mn
Money Finance Tuesday, August 06, 2019 - 17:05
Written by  IANS

After cashing in $1.8 billion worth of the Amazon shares over the last three days of July, Amazon Founder and CEO Jeff Bezos has now sold Amazon shares worth $990 million in the first two days of August, the media reported.

From the 530,000 Amazon shares that Bezos sold early this month, he will net an estimated $750 million in cash after taxes, reported on Monday.

Bezos, the richest man on Earth, is now worth an estimated $110.1 billion, said the report. However, even after the stake sale, Bezos is still the largest shareholder in Amazon. He now owns 57.6 million shares, which is about 11% of the company, as per a Business insider report.

While the purpose behind Bezos' latest stock sales have not been officially revealed, it is believed that the fund would benefit his space exploration company Blue Origin.

Blue Origin is a space exploration company that Bezos founded in September 2000.

Bezos told journalists a couple of years ago at a space exploration conference that he was selling some of his Amazon shares to fund Blue Origin.

Between July 29 and July 31 Bezos sold a little over 900,000 shares of the e-commerce giant when its stock price was around $1,900 a share, Forbes had reported earlier.

The world's richest man gave his former wife MacKenzie a fourth of his Amazon stake, or 19.7 million shares. The couple finalised their divorce in April.

MacKenzie has decided to donate half of her $38 billion worth alimony to investor Warren Buffett's philanthropic campaign -- the Giving Pledge.

Become a TNM Member for just Rs 999!
You can also support us with a one-time payment.