Jeff Bezos Sells Billions Worth Of Amazon Stocks

Jeff Bezos just sold $2.4 billion worth of Amazon shares – his second stock sale within the same week. According to Forbes, the outgoing Amazon CEO also sold $2.5 million or 740,000 shares on Monday and Tuesday. This served as Bezos’ first sale of Amazon stocks since last year’s Election Day.

And on Wednesday and Thursday, he sold $2.4 billion worth of Amazon shares for a total of $4.9 billion.

Bezos is reportedly worth $19.7 billion, which is slightly lower than last year’s $192.6 billion estimates. Still, the outgoing Amazon CEO is dubbed as the richest person in the world.

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In fact, he surpassed Bill Gates as the richest person in the world in 2017. And he has stayed in the number spot throughout the past four years.

He is reportedly ahead of the second-richest person in the world, Bernard Arnault by $8 billion.

Outside of Amazon, Bezos has also been very active with his other investments. In November, he announced that he would be giving away $791 million worth of gifts to 16 organizations that are fighting climate change.

Through his Bezos Earth Fund, the CEO also pledged to give $10 billion in total to fight the same cause.

Since 2017, Bezos has also spent $1 billion yearly to fund his space exploration firm, Blue Origin. And following his exit from Amazon, Bezos plans to dedicate more of his time on his firm.

Other than his impressive stocks sale on Amazon, Bezos also made headlines after President Joe Biden said that he would like to take a leaf off the CEO’s or Henry Ford’s playbook. After all, both Bezos and Ford raised wages to increase productivity.

According to Insider, this is exactly what Biden wants to achieve in the next couple of days. He wants to give blue-collar workers a pay increase.

Earlier this year, Bezos announced a pay bump of up to $3 per hour for 500,000 Amazon employees. This directive came after the company set its minimum wage to $15 per hour in 2018.

In his final letter to shareholders, Bezos said that he wants Amazon to be known as Earth’s best employer and as the safest place to work at Earth.

“We’re not done leading. We’ll do that by continuing to lead on wages, on benefits, on upskilling opportunities, and in other ways that we will figure out over time,” he said.

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Source: Forbes, Insider, Celebrity Net Worth

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