Amazon Shares Worth USD 3.5 Billion Sold In Just One Week
The richest man in the world, Jeff Bezos, has managed to sell Amazon shares worth around USD 3.5 billion since last Friday. The entire business was disclosed by the company’s SEC filings. Amazon had reported postive Q4 earnings easily leaving the Wall Street expectations behind that saw the company’s stock skyrocket again beyond the USD 1 trillion mark. On Friday and Monday, Bezos had managed to sell a total of 900,000 shares worth around USD 1.8 billion followed by another 800,000 shares on Tuesday and Wednesday worth USD 1.7 billion.
According to Forbes, the total net worth of Jeff Bezos now stands at USD 125 billion. The sales reported this week are just 3.5 per cent of the company’s total stake, which is currently worth USD 116.8 billion. Amazon shares have been on the rise ever since 2020 started. It has gone up by more than 8 per cent this year to stand at USD 2056.23 during the early trading on Friday. Jeff Bezos had announced back in 2017 that he will selling off Amazon shares worth at least USD 1 billion every year to find his space travel company, Blue Origin. Since then, this has been the company’s biggest cash-out after selling out shares worth USD 2 billion in 2017 and USD 2.8 billion in 2019.
Talking of Jeff Bezos’ expansion plans, the world’s richest man is reportedly looking for a new mansion in Los Angeles and is, needless to say, ready to spend as much as it takes. Bezos has been recently out touring mansions in Bel Air and Beverly Hills. The Beverly Hillbillies show house the Chartwell estate located at 750 Bel Air Road was also in Bezos’ radar but it was sold recently for USD 150 million.