Jeff Bezos Sells Amazon Stock Again

Stock Sale Expected to Exceed $1 Billion
Bezos Announces Donation to Homeless Support Organization

Jeff Bezos, the founder of Amazon, the world's largest e-commerce company, is set to sell a large portion of his Amazon shares. On the same day the news of the stock sale was announced, Bezos revealed plans to donate to a nonprofit organization that helps homeless families.

[Image source=Yonhap News]

US financial media CNBC reported on the 21st (local time), citing sources, that Bezos plans to aggressively dispose of his Amazon shares.

The scale of Bezos's Amazon stock sale is expected to be between 8 million and 10 million shares, worth over $1 billion (approximately 1.29 trillion KRW). Following the news of his stock sale, Amazon's stock price closed down 1.53% on the New York Stock Exchange that day, and fell an additional 0.57% in after-hours trading.

Since Bezos has been selling Amazon shares to fund his charitable activities and his space company Blue Origin, which he founded, this stock disposal appears to be related to those efforts. On the day the stock sale news was reported, Bezos announced he would donate $118 million (approximately 153 billion KRW) to a nonprofit organization that supports homeless families. He said, "It is a privilege to support these organizations that carry out the inspiring mission of helping families regain stability."

According to documents filed with the US Securities and Exchange Commission (SEC), Bezos also donated about $240 million (approximately 310 billion KRW) worth of Amazon shares to nonprofits last week. However, the recipients of Bezos's donated shares have not been disclosed.

Since stepping down as Amazon's CEO in 2021, Bezos has been actively engaged in charitable giving. In a media interview last November, he stated his intention to donate most of his wealth, and in August of this year, he donated $100 million (approximately 129 billion KRW) for wildfire recovery efforts on Maui Island, Hawaii. He also revealed plans to sell over $1 billion worth of Amazon shares annually to fund his space company Blue Origin.

US business magazine Forbes estimated that including this donation, Bezos has donated a total of $3 billion (approximately 3.88 trillion KRW) to nonprofits. This amount is less than 2% of Bezos's current net worth of $166 billion (approximately 215 trillion KRW). Although Bezos stepped down as Amazon CEO two years ago, he still owns nearly 980 million shares, close to 10% of the entire company’s stock, and serves as the chairman of the board.

This content was produced with the assistance of AI translation services.