Bezos sells Amazon shares worth $3.1 billion
Global Economy
06 August, 2020, 10:05 pm
Last modified: 06 August, 2020, 10:06 pm
Jeff Bezos, the world’s richest man, had said he planned to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin
Founder, Chairman, CEO and President of Amazon Jeff Bezos speaks during an event about Blue Origin's space exploration plans in Washington, US, May 9, 2019/ Reuters
Amazon.com Inc Chief Executive Officer Jeff Bezos sold shares worth $3.1 billion in the e-commerce company in recent days, regulatory filings showed on Wednesday.
The stock sale comes at a time when the company's shares have surged more than 73% this year.
During the first two working days of August, Bezos sold 1 million shares as part of a previously announced trading plan, according to the filings.
Bezos, the world's richest man, had said he planned to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.
The latest share sale leaves him with 54.5 million shares worth roughly $174.64 billion at the current market price.
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