Jeff Bezos has fired another stock sale bazooka, this time for $3 billion, as part of his prearranged 10b5-1 trading plan.
The sale of stock brings his running total of stock sales just for 2020 to more than $10.2 billion, according to CNBC. Bezos still owns more than 53 million shares, currently valued around $170 billion, even after the sale.
The acceleration in stock sales for Bezos could be due to a number of things. Bezos has claimed he needs to sell $1 billion in stock per year to fund his rocket company startup, Blue Origin.
Bezos also launched a $10 billion “Earth Fund” earlier this year to help combat the effects of climate change. That organization needs capital to issue grants to scientists and other organizations. Bezos is also expected to make donations of $100 million each to the Nature Conservancy, the Environmental Defense Fund, the Natural Resources Defense Council and the World Wildlife Fund.