It was part of a previously scheduled sale plan, but because Amazon’s shares have run up sharply in the past year the sale is the biggest ever by the tech billionaire. Last year he sold $1.4 billion of Amazon stock in total.
The CEO sold about 1 million shares of Amazon this week. Bezos sold 1 million shares from Tuesday to Thursday ranging in price from about $935 to $950 per share, according to Thursday’s filing. He still owns 79.9 million shares, or about 17 percent of the company, down from 83 million shares at the end of 2015.
Shares of the online retail behemoth are up 42% in the last year and up 25% this year alone.
Bezos has promised to use some of his Amazon profits to fund his space exploration company Blue Origin, CNBC’s Matt Rosoff reported.
Bezos is on his way to becoming the worlds richest person as Amazon stock approaches the $1000 mark.