Either Jeff Bezos is really strapped for cash or he’s planning one hell of a blowout wedding for his betrothed bride to be.
Bezos reportedly popped the question to longtime girlfriend Lauren Sanchez in May while they sailed away aboard his $500 million super yacht, Koru. Earlier this month, friends threw the couple an exclusive engagement party in posh Beverly Hills.
Related: Jeff Bezos makes a major ’emotional’ decision
The party was only exclusive to us normals because the guest list featured everyone from Salma Hayek to Robert Pattison to Kris Jenner and even Oprah. The party just happened to be on the eve of Sanchez’s debut on the cover of Vogue.
Needless to say, Bezos is having the time of his life. But he has also made some big changes in recent weeks, and a new report suggests he’s about to make yet another big one.
Last week. Bezos sold 1.67 million shares of Amazon (AMZN) – Get Free Report, according to U.S. Securities and Exchange Commission filings. While he gained an estimated $240 million from the sale, Bezos still owns more than 988 million shares (about 10%) of the company he founded decades ago.
But he may not be done selling, according to CNBC’s David Faber who is reporting that Bezos is expected to be “aggressive” in selling more shares of the company Tuesday.
Bezos could sell between 8 million and 10 million shares, which would amount to more than $1 billion worth of stock.
Bezos has stated that he sells about $1 billion worth of stock a year to fund his Blue Origin rocket company, and Bloomberg reported this year that he’s unloaded about $30 billion in shares since 2002 in order to fund his various projects, like Koru, Blue Origin and potentially his coming nuptials.
In 2020 alone he sold more than $10 billion of his Amazon stock in three different tranches.
Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.