Jeff Bezos unloads $4b of Amazon stock in a week

  • Jeff Bezos unloads $4b of Amazon stock in a week

Jeff Bezos unloads $4b of Amazon stock in a week

Jeff Bezos is on a selling spree.

According to multiple Securities and Exchanges Commission (SEC) filings over the past week, Bezos sold more than $570 million in shares on Friday, February 7, alone.

The pre-arranged sales represent about 3% of the Amazon chief's holdings.

A spokesman for Amazon said in a statement to The Verge that the company is "nothing more important than the safety of its employees". A couple years ago Bezos said he would sell at least $1 billion in Amazon stock a year to fund Blue Origin, his private space company, but this week's transactions were the largest he's made yet.

Jeff Bezos cashed out nearly $3.5 billion in four days by selling Amazon shares in the past week. The rocket builder has since expanded operations and signalled its first human test flights this year. The Beverly Hillbillies show house the Chartwell estate located at 750 Bel Air Road was also in Bezos' radar but it was sold recently for Dollars 150 million.

The mega-billionaire has been pumping money obtained through Amazon stock sales into Blue Origin as the company competes with SpaceX for contracts to launch commercial satellites and ultimately drive a space tourism market.

He was seen walking through the previews at Sotheby's in November and reportedly set a record for artist Ed Ruscha at a Christie's auction the same month with a $52.5 million purchase of "Hurting the Word Radio #2".

According to Page 6, Michael describes Lauren as Bezos' "fiancee" in his suit, which he submitted recently in Los Angeles Superior Court. Amazon had reported postive Q4 earnings easily leaving the Wall Street expectations behind that saw the company's stock skyrocket again beyond the United States dollars 1 trillion mark.

Bezos still owns about 11 per cent of Amazon, worth $115.5 billion. We hope that we have succeeded by giving you the full details and information.