Amazon CEO Jeff Bezos has sold $2.8 billion worth of his company’s stock over the course of one week. Bezos has previously stated that he would invest a large portion of his wealth into the development of space technologies.
Jeff Bezos sold about $990 million in Amazon stock at the end of last week, according to a report by Reuters. The CEO’s move follows an additional $1.8 billion worth of stock sold in the last few days of July, bringing the total to roughly $2.8 billion worth in Amazon stock sold.
The report added that Bezos previously said he would sell $1 billion worth in Amazon stock each year to prioritize funding for his aerospace company, Blue Origin.
If the CEO decides to utilize the sum of his sales for investing in aerospace technology development, however, last week’s stock sales alone had more than doubled his prior stated projection.
According to Bezos, humans “are destroying the planet” and will eventually need to live and work in space, so the development of space technologies is critical for humans to have a long future.
Bezos’ ex-wife, Mackenzie Bezos — who became one of the wealthiest people in the world following her divorce from the CEO and reportedly owns Amazon stake worth more than $37 billion — pledged in May that she would commit to giving at least half of her wealth to charity.