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Jeff Bezos is anticipated to be “aggressive” in promoting extra shares of Amazon on Tuesday, sources instructed CNBC’s David Faber.
Bezos could promote as many as 8 to 10 million shares, which might quantity to greater than $1 billion price of inventory, the sources instructed Faber.
Shares of Amazon are down about 2.6%.
It comes after Bezos final week unloaded about $240 million price of Amazon shares, based on monetary filings. The transactions had been marked as contributions to non-profit organizations, the submitting states.
It is unclear who Bezos donated the shares to. A consultant for Bezos did not instantly reply to a request for remark.
Bezos — who’s the third richest particular person on the planet, with a internet price of round $170 billion, based on Bloomberg — nonetheless owns about 988 million Amazon shares, which quantities to an almost 10% stake within the firm.
Since stepping down as CEO of Amazon in 2021, Bezos has accelerated his charitable giving, and has stated he plans to present away a lot of his fortune in his lifetime. Bezos and his fiancee Lauren Sanchez in August pledged $100 million to restoration efforts in Maui after lethal wildfires ravaged the Hawaiian island. Bezos has stated he sells no less than $1 billion of Amazon inventory a yr to fund his rocket startup, Blue Origin, and in 2020 he launched the $10 billion Earth Fund to fight the consequences of local weather change.
Earlier this month, the Amazon founder and govt chairman introduced that he plans to go away Seattle and transfer to Miami, permitting him to be nearer to his mother and father, Sanchez, and Blue Origin’s operations.
WATCH: This is why Jeff Bezos is leaving Seattle for Miami
