Jeff Bezos sells Amazon stock worth $2.8 billion last week
06 Aug 2019
Amazon.com Inc (AMZN.O) Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion.
In the last three days of July, Bezos has sold stock worth about $1.8 billion, regulatory filings (here) with the Securities and Exchange Commission showed.
Amazon declined to comment on Bezos’ stock sale.
The move comes as part of a previously announced 10b5-1 trading plan. Bezos had previously said he plans to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.
Bezos’ former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than $37 billion, is now the online retailer’s second largest individual shareholder.
Reporting by Manojna Maddipatla in Bengaluru and Jeffrey Dastin in San Francisco
Source: UK Reuters