Jeff Bezos Sells $2 billion Value Of His Amazon Stock

In line with a brand new report by Forbes, American investor and second richest man in te world, Jeff Bezos has bought $2b price of his stock in Amazon, the world’s largest retailer.

Bezos bought the shares earlier this week whereas he was in Glasgow on the COP26 local weather summit.

The sale got here as Bezos, the world’s second richest particular person, promised in a speech on the summit that he’ll spend $2 billion from his Earth Fund on restoring nature and reworking meals programs.

“We should preserve what we nonetheless have, we should restore what we’ve misplaced, and we should develop what we have to stay with out degrading the planet for future generations to come back,” Bezos stated throughout his speak in Glasgow.

The sale, after accounting for capital features taxes, barely modifications his web price. As of Friday, November 5, Bezos is price $199.4 billion, Forbes estimates. He trails the primary richest, Elon Musk (price an estimated $317 billion), by about $118 billion.

Bezos has bought greater than $8.8 billion price of Amazon inventory this 12 months. Since taking Amazon public in 1998, the founding father of the e-commerce large has bought some $29 billion price of Amazon shares, Forbes calculates; his stake within the firm has gone from 42% in 1997 to only beneath 10% at present.

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