Why did Bezos sell Amazon shares hours before Biden won the US presidency?



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He earned $ 2.3 billion from the sale

Jeff Bezos, founder of Amazon and the richest man in the world, sold $ 3 billion in shares of the company, hours before the announcement of the US election result.

On Monday and Tuesday, Bezos sold a huge amount of shares in his company and, after withholding tax, Forbes estimates that he will make $ 2.3 billion from the sale, and he is still the richest person in the world. world with a net worth of $ 189.6 billion, according to the Securities Commission. And the American stock exchanges.

And 7 new documents submitted to the Securities and Exchange Commission on Wednesday showed that the markets were about to close; Bezos sold 1 million Amazon shares this week, or about 1.8% of his stake.

The sale took place when Amazon’s shares traded for between $ 2,950 and $ 3,075. According to the disclosures, this sale is part of a predefined Amazon sales plan in accordance with internal trade laws.

This is the third time this year that Bezos has sold Amazon shares for an estimated amount of billions of dollars. The billionaire now owns 10.6% of the company. In August, it sold $ 3.1 billion of Amazon shares.

In the first week of February, he sold over $ 4 billion in Amazon stock; That brings the total of what he sold to over $ 10 billion in Amazon shares in 2020 alone.

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