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BREAKING NEWS

Jeff Bezos sells Amazon stock worth $2.8 billion last week

Jeff Bezos sells Amazon stock worth $2.8 billion last week
FILE PHOTO: Jeff Bezos, founder of Amazon and Blue Origin speaks at the John F. Kennedy Library in Boston, Massachusetts, U.S., June 19, 2019. REUTERS/Katherine Taylor -
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Katherine Taylor(Reuters)
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(Reuters) – Amazon.com Inc <AMZN.O> Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion (£2.3 billion).

In the last three days of July, Bezos has sold stock worth about $1.8 billion, regulatory filings https://www.sec.gov/Archives/edgar/data/1018724/000101872419000083/xslF345X03/wf-form4_156504082729937.xml with the Securities and Exchange Commission showed.

Amazon declined to comment on Bezos’ stock sale.

The move comes as part of a previously announced 10b5-1 trading plan. Bezos had previously said he plans to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.

Bezos’ former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than $37 billion, is now the online retailer’s second largest individual shareholder.

(Reporting by Manojna Maddipatla in Bengaluru and Jeffrey Dastin in San Francisco; editing by Gopakumar Warrier)

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