Jeff Bezos raked in R50 billion in 4 days by selling Amazon stock
- Jeff Bezos raked in nearly $3.5 billion (about R50 billion) in four days by selling Amazon shares.
- The e-commerce giant's founder and CEO sold more than 1.7 million shares since last Friday.
- Bezos scheduled the sale of 3% of his Amazon shares to occur after its earnings last week.
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Jeff Bezos cashed out almost $3.5 billion (R50 billion) in four days by selling Amazon shares in the past week.
The e-commerce titan's founder and CEO netted about $1.8 billion by selling more than 905,000 shares last Friday and Monday, according to SEC filings. Bezos also raked in around $1.7 billion (about R25 billion) by selling nearly 811,000 shares on Tuesday and Wednesday, SEC filings show.
The pre-arranged sales represent about 3% of the Amazon chief's holdings. Bezos - the world's wealthiest man with an estimated fortune of $126 billion (about R1.8 trillion), according to the Bloomberg Billionaires Index - scheduled the sales to occur after Amazon blew away earnings forecasts last week.
Amazon's stock price has jumped by a quarter in the past year and 11% since the start of this year, boosting the company's market capitalisation to north of $1 trillion (R14 trillion). The company has benefited from its explosive cloud-storage business, Amazon Web Services, as well as popular offerings such as its voice-controlled smart devices and video-streaming service.
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