Amazon founder and CEO Jeff Bezos has been named the richest person in the world, but the vast majority of his extraordinary wealth, now estimated at more than $95 billion, is in Amazon.com stock.
What that means is that occasionally Bezos will convert a small part of that vast amount of stock into cash, and will have the note the exact amount through filing a Form 4 with the United State Securities and Exchange Commission.
During the last week, beginning Wednesday and ending Friday, Bezos did just that. However, this time he did things slightly different, as for only the first time he sold over $1 billion worth of stock.
Over the past six years, Bezos periodically has sold his stock in Amazon, typically reaching the area of 900,000 to 1 million shares, as he owns close to 80 million shares.
The last time he did just that was in May of 2017. At that time, Bezos sold $940.7 million in stock. Due to strong earnings reports for the last few quarters, stock at Amazon has soared in price.
Shares have increased since the start of 2017 by 48% and just since the start of September have increased by 18%, which in turn makes the stock sales of Bezos that much more each time, even if he sells the same number of shares.
Bezos keeps his personal life very private and his spending habits more so. He does not have a philanthropic arm he operates at the scale of say Bill Gates, the founder of Microsoft, who has his huge foundation or Facebook’s Mark Zuckerberg’s foundation.
The parents of Bezos oversee a foundation for education that gives modest amounts away. So it is not very clear how the Amazon CEO is planning to spending the mounting wealth he is able to enjoy.
In June, the CEO at Amazon did say that he wanted to be more involved in philanthropy by polling the world in a rare post on Twitter for ideas.
Bezos owns the Washington Post as well as Blue Origin a rocket company so he could be just stockpiling it to make transfers to those companies.
Regardless of what he decides to do with his money, he will be taking home a newly printed check of 10-figures which allows him to take his time in deciding where he wants to spend it.