The Amazon founder, the richest person in the world after his company's shares hit record highs recently, sold 1,000,000 shares this week as part of a preset trading plan.
Amazon Chief Executive Jeff Bezos unloaded more than $1 billion in Amazon stock this week, his most valuable stock sale to date, after the online retailer’s shares hit record highs.
The sale, conducted during the last three days as part of a preset trading plan, saw the world’s richest man sell 1 million shares in the company he founded, netting $1.09 billion.
The Amazon founder has been selling stock at a regular clip in part to fund his other ambitions. He said last year that he sold about $1 billion in stock a year to fund Blue Origin, his Kent-based space company. Since early 2008, Bezos has sold Amazon shares valued at $6.8 billion, according to S&P Global Market Intelligence.
After this week’s sale, his stake in Amazon totaled 78.8 million shares, or about 16 percent of the company.
Amazon shares on Friday closed up 1.6 percent at $1,111.60, making his stake worth $87.7 billion.