Amazon Founder Sells $7.367 Billion in Shares for Wedding, Philanthropy

The founder of Amazon recently sold over 3.3 million shares of the company's stock, valued at approximately 7.367 billion dollars. This sale, which occurred between June 27 and June 30, is the first time the founder has sold Amazon shares this year. The transaction is part of a pre-arranged trading plan, known as a 10b5-1 plan, established in March. This plan allows for the sale of up to 25 million shares by May 29, 2026.

This sale coincides with the founder's preparations for a lavish wedding in Venice with their partner. The 10b5-1 plan is a common strategy used by insiders to sell shares at predetermined times, helping to avoid any potential accusations of insider trading. This is not the first time the founder has utilized this plan; in 2022, they sold 75 million shares, raising approximately 13.6 billion dollars. Since 2002, the founder has sold a total of approximately 44 billion dollars worth of Amazon shares.

The proceeds from these sales have been used to fund various ventures, including Blue Origin, a space exploration company. Blue Origin recently launched its new flagship rocket, which successfully entered orbit in January. However, the company faced a setback in February when it laid off approximately 10% of its workforce to cut costs.

In addition to funding personal ventures, the founder has also been actively involved in philanthropy. This year, they have donated nearly 930,000 shares to non-profit organizations. In March, the founder reported donating shares worth approximately 60 million dollars to an undisclosed charity. In May, another batch of shares worth approximately 1.25 billion dollars was donated, followed by a further donation of shares worth approximately 50 million dollars in June.

Despite the sale, the founder remains the largest individual shareholder of Amazon, holding approximately 9.05 billion shares. The founder's net worth is estimated to be around 2400 billion dollars, making them one of the wealthiest individuals in the world. The founder's continued involvement in philanthropy and personal ventures, along with their significant holdings in Amazon, underscores their influence and impact on the tech industry and beyond.