Jeff Bezos Sells Amazon Stock to Bankroll Nonprofit Preschools
(Bloomberg) -- Amazon.com Inc. founder Jeff Bezos sold 1.1 million shares of company stock over a two-day period ending May 30, according to regulatory filings Friday, with more than half of the proceeds going to a nonprofit preschool he founded.
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Bezos sold 431,426 shares on May 29 and 667,260 shares on May 30, according to one filing. The $117 million from the May 30 sale is going to fund Day 1 Academies, a chain of Montessori-themed preschools Bezos founded that has facilities in Texas, Washington, Florida and several other states, according to another filing. The nonprofit opened its first school in 2020.
Bezos, through a spokesperson, declined to comment on the use of the remaining proceeds. The world’s third-wealthiest man, who stepped down as Amazon chief executive officer in 2021 to assume the new role of executive chairman, has several businesses beyond Amazon, including his space company Blue Origin.
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