Jeff Bezos of Amazon, $AMZN, is expected to be “aggressive” in selling more shares of Amazon today, and may sell as many as 8 to 10 million shares, which would amount to roughly $1 billion worth of stock

Jeff Bezos of Amazon, $AMZN, is expected to be “aggressive” in selling more shares of Amazon today, and may sell as many as 8 to 10 million shares, which would amount to roughly $1 billion worth of stock, per CNBC.

Per CNBC:

Jeff Bezos is expected to be “aggressive” in selling more shares of Amazon
on Tuesday, sources told CNBC’s David Faber.

Bezos may sell as many as 8 million to 10 million shares, which would amount to more than $1 billion worth of stock, the sources told Faber.

Shares of Amazon closed down about 1.5%.

It comes after Bezos last week unloaded about $240 million worth of Amazon shares, according to financial filings. The transactions were marked as contributions to nonprofit organizations, the filing states.

It’s unclear who Bezos donated the shares to. A representative for Bezos didn’t immediately respond to a request for comment.

Bezos — who is the third-richest person in the world, with a net worth of around $170 billion, according to Bloomberg — still owns about 988 million Amazon shares, which amounts to a nearly 10% stake in the company.

Since stepping down as CEO of Amazon in 2021, Bezos has accelerated his charitable giving, and has said he plans to give away much of his fortune in his lifetime. Bezos and his fiancee Lauren Sanchez in August pledged $100 million to recovery efforts in Maui after deadly wildfires ravaged the Hawaiian island. Bezos has said he sells at least $1 billion of Amazon stock a year to fund his rocket startup, Blue Origin, and in 2020 he launched the $10 billion Earth Fund to combat the effects of climate change.

Earlier this month, the Amazon founder and executive chairman announced that he plans to leave Seattle and move to Miami, allowing him to be closer to his parents, Sanchez and Blue Origin’s operations.

Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.