Amazon.com Inc CEO Jeff Bezos dumped out $990 million worth of stocks in the firm last Thursday and Friday, considering the total estimation of stocks sold a week ago to $2.8 billion.
Over the most recent three days of July, Bezos has sold shares worth about $1.8 billion, the Securities and Exchange Commission reported.
Amazon refused to comment on Bezos' shares deal.
This action is considered as a part of the recently reported 10b5-1 exchanging plan. Bezos had recently said he intends to sell shares worth about $1 billion annually to finance his rocket organization, Blue Origin.
Bezos' former spouse, Mackenzie Bezos, who presently props Amazon stake worth over $37 billion, is currently the online retailer's second-biggest individual investor.
Meantime, Amazon stocks declined again on Monday, their eighth day of declines in a row and their longest rough patch since July 2006. The stocks have lost over 12 percent during the drop, mowing off over $120 billion from Amazon's market limit, which stands at about $873 billion.
Amazon stocks closed on Monday nearly $1,765, higher 17.5 percent year to date, in comparison with the S&P 500's 13.5 percent rise year to date.