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Jeff Bezos cashes in another $990 mn Amazon shares

From the 530,000 Amazon shares that Bezos sold early this month, he will net an estimated $750 million in cash after taxes, Forbes.com reported.

Jeff Bezos cashes in another $990 mn Amazon shares

San Francisco: After cashing in $1.8 billion worth of the Amazon shares over the last three days of July, Amazon Founder and CEO Jeff Bezos has now sold Amazon shares worth $990 million in the first two days of August, the media reported.

From the 530,000 Amazon shares that Bezos sold early this month, he will net an estimated $750 million in cash after taxes, Forbes.com reported on Monday.

Bezos, the richest man on Earth, is now worth an estimated $110.1 billion, said the report.

While the purpose behind Bezos` latest stock sales have not been officially revealed, it is believed that the fund would benefit his space exploration company Blue Origin.

Bezos told journalists a couple of years ago that he was selling some of his Amazon shares to fund Blue Origin.

Between July 29 and July 31 Bezos sold a little over 900,000 shares of the e-commerce giant when its stock price was around $1,900 a share, Forbes had reported earlier.

The world`s richest man gave his former wife MacKenzie a fourth of his Amazon stake, or 19.7 million shares. The couple finalised their divorce in April.

MacKenzie has decided to donate half of her $38 billion worth alimony to investor Warren Buffett`s philanthropic campaign -- the Giving Pledge.