Business Companies 06 Aug 2019 Jeff Bezos sells Ama ...

Jeff Bezos sells Amazon stock worth USD 2.8 billion last week

REUTERS
Published Aug 6, 2019, 9:40 am IST
Updated Aug 6, 2019, 9:40 am IST
Bezos had previously said he plans to sell stock worth about USD 1 bn each year to fund his rocket company, Blue Origin.
Amazon declined to comment on Bezos’ stock sale. (Photo: AFP)
 Amazon declined to comment on Bezos’ stock sale. (Photo: AFP)

Amazon.com Inc Chief Executive Officer Jeff Bezos offloaded USD 990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to USD 2.8 billion.

In the last three days of July, Bezos has sold stock worth about USD 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 USD 1 billion each year to fund his rocket company, Blue Origin.

Bezos’ former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than USD 37 billion, is now the online retailer’s second largest individual shareholder.

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