NEW YORK – Amazon CEO and billionaire Jeff Bezos sold more than 1 million shares of company stock worth nearly US$1.1 billion in three days last week.
The stock sale comes a week after the company out-performed earnings expectations for its third quarter, sending its shares soaring to a record high and giving Bezos the title of world’s richest person.
Amazon shares are up more than 16 percent over the past month, closing on Friday at $1111.
Bezos sold about $1 billion in shares in May. He still owns 78.9 million shares of Amazon stock.
He said in April that he sells “about $1 billion per year” of the stock to help fund his Blue Origin space venture.
