Bezos sells over $ 3 billion in Amazon stock

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Amazon Founder and CEO Jeff Bezos speaks to the media about the company’s sustainability efforts in Washington on September 19, 2019.Eric Baradat | AFP | Getty Images

Amazon CEO Jeff Bezos this week sold more than $ 3.1 billion in shares in his company, according to documents filed with the Securities and Exchange Commission compiled by OpenInsider.The sales were part of a pre-established 10b5-1 business plan, according to the documents filed. Earlier this year, Bezos sold more than $ 4.1 billion in shares of the company. This week’s sales bring its total inflow in 2020 to just over $ 7.2 billion so far. He still owns over 54 million shares, worth over $ 170 billion, making him the richest person in the world.

For comparison, Bezos sold $ 2.8 billion worth of shares in 2019. Bezos previously said he sells about $ 1 billion of Amazon stock per year to fund his space exploration company. , Blue Origin.

Amazon representatives were not immediately available to comment on the latest sale.

The sales come a week after Bezos testified before the House antitrust subcommittee, which is concerned about the growing power of big tech companies, alongside Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook and Sundar Pichai, CEO of parent company Google Alphabet.

Amazon last week also released its second quarter results, dashing analyst expectations after the coronavirus pandemic fueled online shopping.

Amazon shares are up 73% for the year, including a 2.1% gain on Wednesday.

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