Jeff Bezos sells Amazon stock worth $2.8 billion last week

Jeff Bezos sells Amazon stock worth $2.8 billion last week 1

FILE PHOTO – Jeff Bezos, founding father of Amazon and Blue Origin speaks in the course of the JFK Space Summit, celebrating the 50th anniversary of the moon touchdown, on the John F. Kennedy Library in Boston, Massachusetts, U.S., June 19, 2019. REUTERS/Katherine Taylor

(Reuters) – Inc (AMZN.O) Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares within the firm last Thursday and Friday, taking the entire worth of shares bought last week to $2.8 billion.

In the last three days of July, Bezos has bought stock worth about $1.8 billion, regulatory filings right here with the Securities and Exchange Commission confirmed.

Amazon declined to touch upon Bezos’ stock sale.

The transfer comes as a part of a beforehand introduced 10b5-1 buying and selling plan. Bezos had beforehand mentioned he plans to promote stock worth about $1 billion annually to fund his rocket firm, Blue Origin.

Bezos’ former spouse, Mackenzie Bezos, who presently owns Amazon stake worth greater than $37 billion, is now the net retailer’s second largest particular person shareholder.

Reporting by Manojna Maddipatla in Bengaluru and Jeffrey Dastin in San Francisco; modifying by Gopakumar Warrier

Our Standards:The Thomson Reuters Trust Principles.

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