The Amazon CEO did not clarify why he bought so many shares, however he frequently sells off his inventory, typically utilizing it to fund his Blue Origin space company and different ventures.

Billionaires with massive holdings usually diversify their portfolios so they do not have all their eggs in a single basket. Bezos additionally offloaded great amount of shares in August and February of this 12 months, too. He has bought greater than $10 billion value of Amazon inventory this 12 months, in line with OpenInsider’s compilation of Amazon’s regulatory filings. That is up from almost $three billion in 2019.

Amazon (AMZN) did not instantly reply to a request for remark about Bezos’ sale.
Bezos has prior to now stated he sells roughly $1 billion value of inventory a 12 months to fund Blue Origin, and he pledged to promote greater than $1 billion this 12 months as its will get nearer to business operations. He additionally just lately launched a $10 billion fund to fight local weather change.
Final month, Blue Origin launched its space tourism rocket to the sting of Earth’s ambiance. It marked the 13th take a look at flight of New Shepard, because the automobile known as, but it surely nonetheless has but to fly with people on board.

Even with the huge inventory dump, Bezos stays the world’s richest particular person, in line with Bloomberg Billionaires Index. He is value $191 billion, a rise of $76 billion because the starting of the 12 months.

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