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Jeff Bezos Sells Record $757 Million Of Amazon Shares

Jeff Bezos,   AMAZON

 

The company’s rising share price benefits its CEO.

Amazon.com founder and CEO Jeff Bezos sold one million shares of his holdings in the company raising US$757 million last week, according to a filing with the Securities and Exchange Commission. That is a record sale amount for Bezos, exceeding the US$671 million worth of shares he sold in May.

Like the May sale, Bezos benefited some from the stock market reaction to impressive quarterly results at Amazon. The e-commerce giant reported revenue of US$30.4 billion, up 31% from a year earlier, and adjusted profit per shares of US$1.78, versus just 19 cents per share a year earlier. Both results also beat Wall Street analyst expectations. Amazon shares have gained 2% since the results came out and 14% over the past three months.

 

Read the full story on Fortune here.

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