Amazon.com Inc. CEO Jeff Bezos sold almost $2.5 billion worth of shares in his organization this week.
As per filings Wednesday with the Securities and Exchange Commission, Bezos sold almost 740,000 shares on Monday and Tuesday for about $2.48 billion. The stock sales were pre-arranged through a 10b5-1 trading plan, as per the filings.
Bezos is the world’s richest individual, as per the Bloomberg Billionaires Index, with a net worth of about $191 billion. A year ago, Bezos sold more than $9 billion in Amazon stock, and he has recently said about $1 billion of that goes each year to his rocket startup, Blue Origin.
A week ago, Amazon revealed it significantly increased benefits in its first quarter, contrasted with a year prior, and forecast sales above $110 billion in the second quarter. That is required to be the last full quarter with Bezos as CEO; recently Bezos said he would step down in the second from last quarter to become executive chairman of Amazon.
Amazon shares AMZN, – 1.25% have slipped over 5% over the previous week and are flat for the year, however are up 39% over the previous year, contrasted with the S&P 500’s SPX, +0.07% 46% increase in the previous 52 weeks.