Jeff Bezos Sold $3 Billion Dollars Worth Of His Amazon Stock Recently And People Are Wondering Why

The CEO of Amazon Jeff Bezos, sold off an astounding $3 billion dollars worth of stock recently. This has put the company in a slight slump in value after the transaction. Some are speculating why he did this. Some think it was after President Donald Trump accused China of currency manipulation. 

Image: Jeff Bezos CEO Amazon/

Between July 29th to August 2nd, he let go of roughly 200,000 to 320,000 shares per day. After he did this, Amazon’s share prices fell about 6% over the course of last week. Yesterday, the stock slipped another 3%. 

Image: Jeff Bezos with ex-wife MacKenzie Bezos/ET Online

Jeff Bezos, the world’s richest man is currently worth $165.6 billion dollars. His ex-wife MacKenzie Bezos, received from a divorce settlement $38 billion dollars catapulting her to being one of the world’s richest women. 

According to estimates by Business Insider from last year, Bezos earned $6.54 billion dollars a month. This was $1.5 billion a week and more than $215 million dollars a day over a 12 month span of time. These numbers have likely increased since. Bezos’ fortune increased by roughly $231,000 per minute back in 2018.

Speculations over the sales of his stock are all over the map. Amazon declined to make a statement to CNBC about what happened. Maybe Bezos is funding his space business known as Blue Origin. His business model for the company was to sell $1 billion dollars worth of Amazon stock each year, to fund the business venture. 

Bezos did comment, “The only way that I can see to deploy this much financial resource is by converting my Amazon winnings into space travel.”

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Back in 2018, Bezos sold in one day 1.85 million dollars worth of shares on February 15th at $73 dollars a share. Now, Amazon is worth far more now at $1761 dollars a share.  

(Source: Quartz)

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