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Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days

Amazon founder and CEO, Jeff Bezos.

On Wednesday evening, hours after the stock markets had closed, Amazon founder and chief executive Jeff Bezos filed paperwork with the Securities Exchange Commission which showed he had sold $1.8 billion worth of Amazon shares over the final three days of July. After taxes, he will net about $1.4 billion.

Bezos sold slightly more than 900,000 shares of Amazon between July 29 and July 31, when the e-commerce behometh’s stock price was around $1,900 a share. His net worth is now $115 billion, using Wednesday’s closing share price.

The last time that Bezos sold Amazon shares was in October 2018.

The new filings appear to show that Bezos has given his ex-wife MacKenzie 25% of his Amazon stake, or 19.7 million shares. In April, as the couple announced they were getting divorced, Mackenzie tweeted that Jeff would keep 75% of his Amazon stake. Jeff Bezos will continue to exercise voting control over the 19.7 million shares of Amazon he transferred to his wife, according to an SEC filing in April. Her Amazon shares are worth nearly $36.8 billion, making her the third richest woman in the world.

A spokesman for Amazon has not responded to requests for comment.

Jeff Bezos has sold large chunks of Amazon stock before, but this appears to be the largest sale, measured in dollars. Bezos sold Amazon stock worth $1.7 billion in 2017 in two separate transactions in May and November of that year. It was reported that Bezos planned to sell $1 billion worth of stock every year to fund Blue Origin, his space exploration company.

Bezos has done little in terms of philanthropy so far. In September 2018, he announced the Bezos Day One Fund, a $2 billion pledge for two causes: helping homeless families find shelter and creating Montessori-inspired preschools in the U.S.

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Angel Au-Yeung has been a reporter on staff at Forbes Magazine since 2017. She covers the world’s wealthiest entrepreneurs and tracks how they use their money and power.

 

Source: Jeff Bezos Sells About $1.8 Billion Worth Of Amazon Shares In Three Days

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DoorDash And Amazon Won’t Change Tipping Policy After Instacart Controversy; If You’re Worried, Carry Cash

The tipping controversy that prompted Instacart to reverse a compensation plan to its contract workers isn’t likely to go away: Rivals DoorDash and Amazon Flex are continuing to adjust driver pay based on how much they get tipped, saying doing so ensures a minimum payout. The practice, which has its roots in the way brick-and-mortar restaurants pay waitstaff, has been adapted to suit the needs of app-based delivery companies…………

Source: DoorDash And Amazon Won’t Change Tipping Policy After Instacart Controversy; If You’re Worried, Carry Cash

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