As the world’s largest eCommerce company, Amazon, witnessed strong buyers’ pressures in recent months, Jeff Bezos experienced impressive gains in his net valuation.
After the closing of Thursday’s trading session, the 57-year-old American billionaire earned $4.24 billion.
Earlier this week, while Bezos attended the COP 26 climate summit in Glasgow, he sold shares of Amazon worth over $2 billion. In a speech at the summit, Bezos, the world’s second-richest person, declared he would invest $2 billion from his Earth Fund in restoring nature and transforming food systems.
“We should protect what we have left, recover what we’ve lost, and grow what we need to live without destroying the planet for future generations,” Bezos stated.
Bezos’ net worth barely changes after accounting for taxes he probably owes on his capital gains. According to Bloomberg Billionaires Index data, Bezos is worth $200 billion as of the early hours on Friday.
It is estimated that Bezos has sold over $8.8 billion worth of Amazon stocks this year. He has sold shares worth $29 billion since taking the company public in 1998.
Amazon’s flagship website sells electronic goods, household goods, and other items. In addition, it controls Whole Foods and offers streaming services and cloud computing. In 2020, Amazon had revenue of $386 billion.
Despite stepping down as Amazon’s CEO in July, Bezos remained as its chairman. Since then, he has focused on his rocket company, Blue Origin, and announced several philanthropic gifts. A $1 billion donation to conservation efforts was announced in September.