Jeff Bezos sold another $990 million worth of Amazon shares at the end of last week

Business Insider | 8/5/2019 | Troy Wolverton
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Amazon CEO Jeff Bezos sold more than 500,000 shares on Thursday and Friday, raising $990 million.

The shares were in addition to the $1.8 billion worth of stock he sold earlier in the week.

Selling

It's unclear why he's selling.

But the moves come amid growing scrutiny of Amazon and follow a disappointing earnings report.

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Jeff Bezos' selling spree didn't stop at $1.8 billion.

End - Week - Amazon - Stock

By the end of last week, he'd dumped nearly a $1 billion more of his Amazon stock.

On Thursday and Friday of last week, Bezos, the CEO of the e-commerce giant, sold 531,852 shares, or about 1% of his total stake, for $990 million, according to documents he filed with the Securities and Exchange Commission. He also donated another 268 shares — worth nearly $500,000 — to an unnamed non-profit organization.

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The end-of-the-week moves capped off a big week of sales for Amazon's founder. Over the first three days of last week — the last three days of July — Bezos sold 965,612 shares, garnering more than $1.8 billion. In total, he sold about 2.5% of his shares.

It's unclear why Bezos...
(Excerpt) Read more at: Business Insider
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