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Good for him!

MW UPDATE: Jeff Bezos sells $1.8 billion worth of Amazon stock this week

8/1/19, 3:31 PM
By Steve Goldstein and Tomi Kilgore, MarketWatch

Amazon founder and CEO still owns about 12% of the shares outstanding, valued at nearly $108 billion

Jeff Bezos has gone on a bit of a selling spree.

The chairman and chief executive of Amazon.com Inc. (AMZN) has sold 968,148 shares worth $1.84 billion over the past three days, according to disclosures made in Securities and Exchange Commission filings late Wednesday night (https:// www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001018724&owner=include&count=40).

According to Forbes (https://www.forbes.com/sites/angelauyeung/2019/07/31/jeff-bezos-sells-about-18-billion-worth-of- amazon-shares-in-three-days/#7944856c4c36), this may be his largest-ever stock sale in dollar terms. Bezos, the founder of space exploration company Blue Origin and owner of The Washington Post, sold the stock in conjunction with a pre- arranged 10b5-1 trading plan, the SEC filing said.

Bezos remains by far the e-commerce and cloud giant's largest shareholder, as he still owns 58.1 million Amazon shares, SEC filings show, which at current stock prices would be valued at about $107.8 billion. That would still make Bezos the world's richest human, as the Bloomberg Billionaires Index had Microsoft Corp.(MSFT) co-founder Bill Gates worth $107 billion through Wednesday.

Earlier this year, Bezos's divorce settlement (http://www.marketwatch.com/story/mackenzie-bezos-to-receive-25-of- amazon-stock-jointly-owned-with-jeff-bezos-in-divorce-settlement-2019-04-04) had MacKenzie Bezos receiving 25% of their jointly held Amazon stock, or 4% of the shares outstanding. At the time, that made MacKenzie the fourth wealthiest woman in the world (http://www.marketwatch.com/story/mackenzie-bezos-to-receive-25-of-amazon-stock-jointly-owned-with-jeff- bezos-in-divorce-settlement-2019-04-04), according to the Bloomberg Billionaires Index.

Amazon's stock fell 0.7% in afternoon trading Thursday, reversing earlier intraday gains of as much as 1.7%. That puts the stock on track to suffer a six-session losing streak, in which it has shed 7.3% in the aftermath of disappointing second-quarter results (http://www.marketwatch.com/story/amazons-run-of-record-earnings-comes-to-an-end-and-the-stock- is-falling-2019-07-25). The timing of Bezos's share sales have worked out so far, as the current price is well below the weighted-average price that the shares were sold:

Date Number of shares sold Weighted average stock price of share sales Value of shares sold July 29 322,716 $1,904.99$614.77 millionJuly 30 322,716 $1,901.31$613.58 millionJuly 31 322,716 $1890.96$610.24 million Total 968,148 $1,899.09$1.84 billionU.S. Securities and Exchange Commission, MarketWatch
Amazon shares have climbed 23.4% year to date, making the company the third-most valuable company by market capitalization at $917.1 billion. In comparison, the Nasdaq Composite has climbed 22.5% and the S&P 500 index has gained 18.1%.

-Steve Goldstein; 415-439-6400; [e-mail]


(END) Dow Jones Newswires
08-01-19 1531ET
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