Thank goodness: the world’s richest man will have some walking-around money this weekend.
In his biggest sale of company stock ever, Amazon CEO Jeff Bezos liquidated $1.1 billion of his Amazon holdings, the company reported to the Securities and Exchange Commission on Nov. 3.
The sale of 1,000,000 Amazon shares took place during the previous three days, part of a preset trading plan, the Seattle Times reported.
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Bezos outstripped Bill Gates in July as the wealthiest person on Earth, with personal holdings estimated at $90.6 billion, according to Time magazine. Gates then leapfrogged back into the top spot, until Amazon’s most recent earnings report propelled the company’s share value to record heights and put Bezos back on the golden throne.
The Amazon chief executive “has been selling stock at a regular clip in part to fund his other ambitions,” the Seattle Times reported Nov. 3. “He said last year that he sold about $1 billion in stock a year to fund Blue Origin, his … space company.”
Bezos still owns 78.8 million Amazon shares, about 16 percent of the firm, according to the Seattle Times. With Amazon’s stock closing at $1,111.60 on Friday, his holdings in the company were worth $87.6 billion.
Photo: Jeff Bezos, chief executive officer of Amazon in July 2017 (Drew Angerer/Getty Images)