Stock

: Jeff Bezos offered $ three billion price of Amazon inventory in essential US election week

Jeff Bezos sold $ 3 billion worth of Amazon stock this week.

(Photo by Alex Wong / Getty Images)

Amazon's founder and chief executive officer sold $ 3 billion worth of shares in this crucial US election week, representing 1.8% of his total stake in the tech giant.

Bezos sold 998,800 shares of Amazon, according to seven filings with the US Securities and Exchange Commission that were closed on Wednesday
AMZN,
+ 2.34%
on Monday and Tuesday.

Plus: Jeff Bezos, CEO of Amazon, is $ 7.6 billion richer, according to earnings report

The sale of nearly 1 million shares came under a 10b5-1 trading plan, according to the SEC, which is a pre-arranged sale under insider trading regulations.

Bezos sold his stock at a price range of $ 2,951 and $ 3,079 per share as Amazon traded near all-time highs. The value of his remaining 10.7% in the company is more than $ 173 billion.

This is the third time this year that Bezos has sold a significant stake in the company. In February, he sold nearly $ 3.5 billion in Amazon stock, and in August the multimillionaire sold nearly $ 3 billion of his shares.

This week's sale brings Bezos' total Amazon stock sales to over $ 9.3 billion this year.

Opinion: Let Jeff Bezos and Elon Musk make billions. Just make them share a little with the rest of us

Bezos, the richest man in the world, previously said he sells about $ 1 billion of his stake in the company every year to fund his rocket startup Blue Origin.

In February, Bezos announced that it would donate $ 10 billion to a climate change fund that provides grants to nonprofits, academics and activists.

Likewise: Why the lockdown of France could become a sales guarantee for Amazon even without Black Friday sales

Related Articles