Amazon CEO Jeff Bezos has sold roughly 3 percent of his shares in the company for a windfall of nearly $3.5 billion, regulatory filings show.
The sale of 1.7 million shares over the course of four days starting last Friday was scheduled in advance and executed under rules to prevent insider trading.
The sale was timed to follow Amazon’s quarterly earnings report, which fortuitously for Bezos was positive and sent the company’s stock soaring.
Amazon shares have risen 12 percent in the week following the January 30 report, and were trading at $2,087.35 at noon on Friday.
Bezos’ remaining Amazon shares are worth about $116.5 billion at current prices.
Last month, a separate filing revealed that Bezos’ ex-wife MacKenzie had sold $370 million worth of the Amazon stock she received in her divorce settlement.
A year-end Securities and Exchange Commission filing revealed that MacKenzie sold 202,000 shares of Amazon stock at some point during 2019, worth more than $370 million at current prices.
MacKenzie and Jeff Bezos announced their separation in January of 2019, shortly before the National Enquirer exposed his love affair with Lauren Sanchez.
Their divorce was finalized in April 2019, with Jeff keeping 75 percent of the couple’s stock, and MacKenzie receiving shares worth roughly $35 billion at the time.
After liquidating some of the stock last year, she still owned 19.49 million shares as of December 31, the filing shows.
In May, MacKenzie signed the Giving Pledge, an initiative created by Warren Buffett and Bill and Melinda Gates in 2010 to encourage billionaires to donate at least half of their wealth to charitable causes, either during their lifetimes or in their wills.
Jeff Bezos has so far not signed the pledge, though he does routinely donate some of his wealth to charitable causes.
Bezos is currently involved in a legal battle with his girlfriend’s brother, Michael Sanchez.
The Hollywood talent manager is currently suing Bezos and his security consultant Gavin de Becker for defamation.
Sanchez alleges that the Amazon founder and his team falsely told reporters that he was the one who provided nude photos of Bezos to The National Enquirer.
The lawsuit contains several allegations about Bezos and his girlfriend, including that their relationship started before previously implied and that Lauren had a role in leaking the couple’s texts and photos.
In one part of the lawsuit, Michael Sanchez describes his sister as Bezos’ ‘current fiance’, implying that the couple are secretly engaged.