According to filings with the Securities and Exchange Commission collected by OpenInsider, Amazon CEO Jeff Bezos this week sold over $3.1 billion in shares in his company.
According to the filings, sales were part of an negotiated 10b5-1 trade agreement. Bezos sold more than 4.1 billion dollars of the company’s shares earlier this year. This week’s revenues have contributed to a cumulative cash of just over 7.2 billion dollars in 2020. He still has over 54 million shares, with a valuation of over 170 billion dollars, making him the world’s richest.
By way of reference, in 2019 Bezos sold $2.8 billion in equities. Bezos has previously said that he is selling around $1bn of Amazon stock a year to fund his space exploration venture, Blue Origin.
Amazon representatives weren’t available immediately to comment on the new deal.
Sales come one week after Bezos testified to the House Antitrust Subcommittee, which is concerned about the rising influence of big tech firms, along with Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook and Google’s parent Alphabet CEO Sundar Pichai.
Amazon also reported its second quarter results last week and the expectations of analysts following online shopping for the coronavirus pandemic were blowing.
Amazon’s shares are up 73% year-on-year, with Wednesday 2.1% gains.