- Jeff Bezos is expected to get “aggressive” in selling more Amazon stock on Tuesday, sources told CNBC’s David Faber.
- Bezos could sell as many as 8 to 10 million shares, which would represent about $1 billion worth of stock, the sources told Faber.
- This comes after Bezos unloaded about $240 million worth of Amazon stock last week.
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Jeff Bezos is expected to get “aggressive” in selling more Amazon stock on Tuesday, sources told CNBC’s David Faber.
Bezos could sell as many as 8 to 10 million shares, which would represent more than $1 billion in stock, the sources told Faber.
Amazon shares are down about 2.6%.
This comes after Bezos unloaded about $240 million in Amazon stock last week, according to financial filings. The transactions were marked as contributions to nonprofit organizations, the filing said.
It is unclear to whom Bezos donated the shares. A representative for Bezos did not immediately respond to a request for comment.
Bezos — who is the third-richest person in the world, with a net worth of about $170 billion, according to Bloomberg — still owns about 988 million Amazon shares, representing a nearly 10% stake in the Company.
Since stepping down as CEO of Amazon in 2021, Bezos has accelerated his charitable giving and said he plans to give away much of his fortune during his lifetime. Bezos and his fiancée Lauren Sanchez in August pledged $100 million for rebuilding efforts on Maui after deadly wildfires ravaged the Hawaiian island. Bezos has said he sells at least $1 billion in 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 plans to leave Seattle and move to Miami, which would allow him to be closer to his parents, Sanchez, and Blue Origin’s operations.
WATCH: Here’s why Jeff Bezos is leaving Seattle for Miami
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