Jeff Bezos just sold nearly $2.5 billion in Amazon shares

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light. Inc. Chief Executive Jeff Bezos sold nearly $2.5 billion worth of shares in his company this week.

According to filings Wednesday with the Securities and Exchange Commission, Bezos sold nearly 740,000 shares on Monday and Tuesday for about $2.48 billion. The stock sales were pre-arranged through a 10b5-1 trading plan, according to the filings.

Bezos is the world’s wealthiest individual, according to the Bloomberg Billionaires Index, with a net worth of about $191 billion. Last year, Bezos sold more than $9 billion in Amazon stock, and he has previously said about $1 billion of that goes every year to his rocket startup, Blue Origin.

Last week, Amazon reported it tripled profits in its first quarter, compared to a year ago, and forecast sales above $110 billion in the second quarter. That is expected to be the last full quarter with Bezos as CEO; earlier this year Bezos said he would step down in the third quarter to become executive chairman of Amazon.

Amazon shares

have slipped more than 5% over the past week and are flat for the year, though are up 39% over the past year, compared to the S&P 500’s

46% gain in the past 52 weeks.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News