Jeff Bezos Sold More Than $3 Billion in Amazon Stock This Week
Amazon CEO and founder Jeff Bezos sold more than $3.1 billion in Amazon stock this week, according to CNBC.
The Security and Exchange Commission reported the sale of the shares. The sale was part of a prearranged 10b5-1 trading plan, according to the filings. The sales this week bring Bezos' total cash out in 2020 to more than $7.2 billion.
He still owns more than 54 million shares, worth more than $170 billion. Last year, he sold $2.8 billion worth of shares. He claims that the proceeds from these sales fund his space exploration company, Blue Origin.
Last week, Bezos testified before the House Antitrust Subcommittee regarding the massive expansion of the company. Amazon also reported phenomenal second-quarter results, that annihilated analyst expectations.
Amazon shares are up 73 percent year-to-date.