Jeff Bezos Sells Another $3B Worth Of Amazon Shares – Yahoo Finance

Share this article! Inc. (NASDAQ: AMZN) Chief Executive Officer Jeff Bezos has actually sold about 1 countless his shares in the e-commerce business so far in August, according to multiple filings with the United States Securities and Exchange Commission.
What Happened: The shares sold by Bezos were worth more than $3 billion, priced in between $3,102.85 and $3,183.26 a piece, at the time of sale.
The SEC filings said the transactions were “effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting individual.”
The worlds richest person formerly shed about $4.1 billion worth of Amazon shares in between January and February this year.
Why It Matters: Bezoss total sale of more than $7 billion worth of shares of the e-commerce giant up until now this year is already substantially greater than in 2015s overall sale of $2.8 billion, according to CNBC, which earlier reported the news.
The billionaire has actually stated he intends to offer about $1 billion worth of shares each year to fund his space exploration company Blue Origin, which rivals Tesla Inc. (NASDAQ: TSLA) CEO Elon Musks SpaceX.
Bezos has likewise participated in philanthropy throughout the years, including introducing “Day One Fund,” an effort to assist homeless households and increase education gain access to through preschools.
The Amazon CEOs previous wife Mackenzie Scott revealed late last month she had donated about $1.7 billion of the money she got as part of a divorce settlement to a host of charities.
Price Action: Amazon shares closed 2.1% greater at $3,205.03 on Wednesday, and traded about 0.4% lower in the after-hours session.
Photo courtesy: Steve Jurvetson on Flickr
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