Thursday 22 August 2019

Cashing out: Jeff Bezos sells $2.8bn of his Amazon shares

Jeff Bezos and Mackenzie Bezos
Jeff Bezos and Mackenzie Bezos

Amazon chief executive Jeff Bezos offloaded $990m (€885m) worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8bn.

In the last three days of July, Mr Bezos sold stock worth about $1.8bn, regulatory filings with the US Securities and Exchange Commission have shown.

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The move comes as part of a previously announced trading plan. Mr Bezos has previously said he plans to sell stock worth about $1bn each year to fund his rocket company, Blue Origin.

Mr Bezos's former wife, MacKenzie Bezos, who currently owns $37bn of the company's stock, is Amazon's second-largest individual shareholder.

Reuters

Irish Independent

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