News
Billionaire Jeff Bezos Sells A Record-Breaking $750M Of Amazon Shares
August 9, 2016
Amazon founder Jeff Bezos
Billionaire Jeff Bezos sold 1M Amazon shares in his holding last week, raising $757M—or to put it into better context, he sold enough shares to fund several small countries.
That’s a record sale for the tech entrepreneur, who sold $671M worth of shares in May. To his benefit, the stock market responded well to the e-commerce giant’s Q2 results, posting revenue gains of 31% to $30.4B, and adjusted profits per share of $1.78, compared to the 19 cents per share the company reported in the year-prior, Fortune reports.
The founder and CEO of Amazon, worth more than $69B, avoided paying insider trading charges for the pre-scheduled sales—which took place between Aug. 2 and Aug. 4 and ranged from $750.35 to $765.01 per share. [Fortune]
