Jeff Bezos sells $2 billion worth of his Amazon Stock

Jeff Bezos sells $2 billion worth of his Amazon Stock

According to a new Forbes article, Jeff Bezos, the world’s second richest man, has sold $2 billion worth of stock in Amazon, the world’s largest retailer.

Bezos sold the stock while attending the COP26 climate summit in Glasgow earlier this week.

The transaction occurred as Bezos, the world’s second richest man, pledged to spend $2 billion from his Earth Fund on environmental restoration and food system transformation in a speech at the summit.

 “We must conserve what we still have, we must restore what we’ve lost, and we must grow what we need to live without degrading the planet for future generations to come,” Bezos said during his talk in Glasgow.
The sale, after accounting for capital gains taxes, barely changes his net worth. As of Friday, November 5, Bezos is worth $199.4 billion, Forbes estimates.
He trails the number one richest, Elon Musk (worth an estimated $317 billion), by about $118 billion. Bezos has sold more than $8.8 billion worth of Amazon stock this year.
Since taking Amazon public in 1998, the founder of the e-commerce giant has sold some $29 billion worth of Amazon shares, Forbes calculates; his stake in the company has gone from 42% in 1997 to just under 10% currently.

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