Amazon chief executive Jeff Bezos sells $3.1billion worth of shares

Jeff Bezos
Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, Massachusetts, U.S.

Amazon.com Inc Chief Executive Officer Jeff Bezos sold shares worth $3.1 billion in the e-commerce company in recent days, regulatory filings showed on Wednesday.

The stock sale comes at a time when the company’s shares have surged more than 73% this year.

During the first two working days of August, Bezos sold 1 million shares as part of a previously announced trading plan, according to the filings.

Bezos, the world’s richest man, had said he planned to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.

The latest share sale leaves him with 54.5 million shares worth roughly $174.64 billion at the current market price.

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