Amazon founder and CEO Jeff Bezos sold over 530,000 Amazon shares in the first two days of August for $990 million. After taxes, he will net an estimated $750 million in cash from the sales.
The sales on August 1 and 2 followed $1.4 billion (after-tax) worth of Amazon stock he sold in the final three days of July.
As the richest man on earth, Bezos is now worth an estimated $110.1 billion, using Monday’s closing share price for Amazon.
READ MORE | Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days
A spokesman for Amazon has not commented on the purpose for Bezos’ last stock sales. The leading theory is that it is to fund Blue Origin, a space exploration company that Bezos founded in September 2000. Bezos told journalists at a space exploration conference in 2017 that he was funding Blue Origin by selling some of his Amazon shares.
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According to documents filed on Monday afternoon with the Securities and Exchange Commission, the world’s richest man sold over 530,000 shares of Amazon when the stock price was around $1,900 a share. On Monday, the stock closed at $1,765 a share.
-Angel Au-Yeung; Forbes Africa
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