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Jeff Bezos is the founder and executive chair of Amazon and a multi-billionaire. He plans to sell shares worth almost $5 billion in the ecommerce group and technology. This will bring his total sales this year to over $13.4 billion.
The shares of the largest cloud computing and online retail company in the world hit a new record high on Tuesday, reaching $200.43. They have increased by nearly 52 percent over the last year. The shares closed at $197.59, down by 1.2 percent, or $2.41. Markets closed early ahead of the Independence Day holiday.
Bezos would have owned about 912 millions Amazon Shares after the plan. This is 8.8% of the stock.
It is not the first instance that Bezos has locked-in profits. Forbes says he is the second wealthiest person in the entire world, with a networth of $214.4 Billion. In February , he sold shares valued at approximately $8.5 billion following Amazon’s share price rally of four fifths by 2023.
Seattle-based company reported a dramatic increase in its net income in the first quarter of 2014, from $3.4 billion to $10,4 billion. This was due to a strong performance in both advertising and cloud computing.
Bezos also founded Blue Origin, a space company which launched six people to the edge in space last May. He is the owner of the Washington Post.
Warren Buffett made his largest annual donation to date, $5.3 billion worth of Berkshire Hathaway shares. He donated them to the Bill & Melinda Gates Foundation as well as four family charities. Buffett donated $5.3 billion of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation and four family charities last week, his largest annual donation since he began making them in 2006.
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