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Why has Bezos sold $6.7 billion worth of Amazon?

May 12, 2021 10:41 IST | By Editorji News Desk

Amazon founder Jeff Bezos has sold 2 million shares of Amazon in 3 tranches in May totalling a whopping $6.7 billion. 

Bezos who continues to hold over 10% stake in the ecommerce giant, cashed in some of the fortune as Amazon shares have rallied over 75% in the last one year.  

This stock sale is not a first from the world’s riches man, last year he sold stock worth more than $10 billion.

The Amazon founder has used equity sales to fund his space ambitions through firm Blue Origin, while he’s committed $10 billion to the “Bezos Earth Fund” to help counter the effects of climate change as well.