Categories: Business

Bezos sell $ 3.1 billion of Amazon shares

Photo: FILE

Bezos sell $ 3.1 billion of Amazon shares

new Delhi. Amazon founder and CEO Jeff Bezos sold $ 3.1 billion in shares of the company this week. This information came from documents filed in the US Securities and Exchange Commission (SEC). Forbes reported on Wednesday that Bezos, the world's richest man, received nearly $ 2.4 billion after the tax cuts.

The reasons behind the current share sale are not known. Bezos had previously said he would sell shares of Amazon worth $ 1 billion each year to fund his space company Blue Origin. CNBC reported that according to regulatory filings, the Amazon CEO received a total of $ 7.2 billion in cash in 2020 following the recent share sale.

This is a much larger number than the $ 2.8 billion shares they sold in 2019. The CEO of Amazon still holds more than 54 million shares. Amazon has done well in the second quarter last week. Its net sales increased 40 percent to $ 88.9 billion, compared to $ 63.4 billion in the year-ago period.

Bezos was in the news recently when his wealth increased by about one lakh crore rupees in just one day. Currently, Bezos is the world's richest man, his wealth has crossed $ 190 billion. Online shopping has gained a lot due to Corona virus, Bezos is also seeing an increase in assets due to continuous demand.

This post was published on August 6, 2020 8:29 pm

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