Jeff Bezos bought round 1.1 million Amazon shares final week — and used the cash raised to fund his “Montessori-inspired” nonprofit preschools, SEC filings present.
The world’s third-richest man bought 431,426 shares on Might 29 and 667,260 shares on Might 30, with the $117 million raised from the second of these gross sales going to Day 1 Academies, a sequence based by Bezos.
The nonprofit serves kids between the ages of three and 5. The primary of its faculties opened in Des Moines, Washington, in 2020.
Bezos stepped down as Amazon CEO in 2021 however stays the corporate’s govt chairman and largest shareholder.
The inventory has climbed 17% in 2024, which means it’s outperforming the benchmark S&P 500 but lagging some rival “Magnificent Seven” members, including Nvidia, which has racked up triple-digit gains, and Meta Platforms.
Bezos introduced his push into training in 2018, when he unveiled his two philanthropic initiatives: the Day 1 Households Fund and the Day 1 Academies Fund. Each initiatives are funded by the Bezos Day One Fund, to which Bezos dedicated $2 billion on the time, in a bid to create a community of preschools wherein “the kid would be the buyer.”
The colleges are instantly operated by Bezos’ fund, which “creates a chance to study, invent, and enhance” upon early childhood training, based on its web site.