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Jeff Bezos offloaded Amazon shares worth $2.8 billion

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.

jeff bezosPhoto: Flickr

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.


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  • avatar-1254
    Nikopass
    • #

    What is this pinpoint with Jeff Bezos and sale of his stocks. What else is he supposed to do with his shares, pickle it? He has ton of it. There is nothing else for him to do with it but sell some.

  • avatar-1186
    Crisnew
    • #

    Jeff Bezos clearly said that he is going to fund his rocket company, Blue Origin. Guys, he is just a dreamer who just want to visit space.


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