Amazon CEO
Jeff Bezos sold about $941 million of Amazon stock in the last three days, the
company said in a SEC filing.
It was part
of a previously scheduled sale plan, but because Amazon's shares have run up
sharply in the past year the sale is the biggest ever by the tech billionaire.
Last year he sold $1.4 billion of Amazon stock in total.
The CEO sold
about 1 million shares of Amazon this week. Bezos sold 1 million shares from
Tuesday to Thursday ranging in price from about $935 to $950 per share, according
to Thursday's filing. He still owns 79.9 million shares, or about 17 percent of
the company, down from 83 million shares at the end of 2015.
Shares of
the online retail behemoth are up 42% in the last year and up 25% this year
alone.
Bezos has promised
to use some of his Amazon profits to fund his space exploration company Blue
Origin, CNBC's Matt Rosoff reported.
Bezos is on
his way to becoming the worlds richest person as Amazon stock approaches the
$1000 mark.
Source: Business Insider
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