- Amazon CEO Jeff Bezos just sold about $US1.8 billion worth of stock.
- The sale of 965,612 shares represented 1.6% of his total holding in Amazon.
- Bezos’ net worth stands at $US117 billion, according to the Bloomberg Billionaires Index.
- The $US1.8 billion could be used to help fund his space company, Blue Origin.
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Jeff Bezos just sold a whole bunch of Amazon stock.
According to Amazon filings with the Securities and Exchange Commission on Wednesday night, Bezos dumped 965,612 shares in the final three days of July, at a value of about $US1,900 a share.
That means the world’s richest man just bolstered his cash reserves by more than $US1.8 billion. Bezos’ net worth stands at $US117 billion, according to the Bloomberg Billionaires Index.
Forbes said the sell-off could be Bezos’ largest in dollar value since he founded Amazon in 1994 and grew the online retailer into a near-trillion-dollar company.
The 965,612 shares represented 1.6% of his total holding in Amazon, which now stands at 58,142,479 shares.
Bezos said last year that he liquidated $US1 billion worth of Amazon stock every year to pay for his rocket company, Blue Origin. “The only way I can see to deploy this much financial resource is by converting my Amazon winnings into space travel,” he said in an interview with Axel Springer CEO Mathias Döpfner.
It is not known whether the cash from his July sale will also be put toward Blue Origin. An Amazon spokesman did not immediately respond to Business Insider’s request for comment.