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
on Monday and Tuesday.
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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.
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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.
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