Amazon.com Inc. Chief Executive Jeff Bezos sold nearly $2.5 billion value of shares in his firm 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 inventory gross sales had been pre-arranged by way of a 10b5-1 buying and selling plan, in response to the filings.
Bezos is the world’s wealthiest particular person, in response to the Bloomberg Billionaires Index, with a web value of about $191 billion. Last yr, Bezos sold more than $9 billion in Amazon inventory, and he has beforehand stated about $1 billion of that goes yearly to his rocket startup, Blue Origin.
Last week, Amazon reported it tripled profits in its first quarter, in comparison with a yr in the past, and forecast gross sales above $110 billion in the second quarter. That is anticipated to be the final full quarter with Bezos as CEO; earlier this yr Bezos stated he would step down in the third quarter to change into government chairman of Amazon.
Amazon shares
AMZN,
have slipped greater than 5% over the previous week and are flat for the yr, although are up 39% over the previous yr, in comparison with the S&P 500’s
SPX,
46% achieve in the previous 52 weeks.
