Amazon founder and CEO Jeff Bezos sold $1.95 billion worth of shares in his own company in a couple of days. According to OpenInsider, the sell-off displayed buoyant demand for Amazon shares. Filings with the Securities and Exchange Commission confirmed that all transactions were settled under a prearranged 10b5-1 trading plan. Over a few years, Jeff Bezos has considerably scaled up sales of Amazon shares. In February 2021, he unloaded nearly $4 billion worth of shares. In November 2020, he managed to gain almost $3 billion from such sell-offs.
The CEO of the e-commerce giant announced he decided to get rid of Amazon shares with the aim of funding another project, Blue Origin. Thus, selling shares on a yearly basis, he intends to invest that money in his dream project, the space exploration company. He has set an ambitious goal to send the first astronaut crew to space this summer. Besides, the richest man in the world in Forbes’ ratings donates part of his revenue to charities to support homeless people. Jeff Bezos is going to step down as Amazon CEO in Q3 2021. He wants to delegate the authority to AWS CEO Andy Jassy and accept the position of the executive chairman on Amazon’s board.
