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Jeff Bezos sells $1.8 billion Amazon shares

San Francisco, Aug 1 (IANS) In what could be his largest stock sell-off, Amazon Founder and CEO Jeff Bezos has cashed in $1.8 billion worth of the company’s shares over the last three days of July, according to media reports.

After taxes, he would net about $1.4 billion, Forbes.com reported on Wednesday, citing filings by Bezos with the Securities Exchange Commission.

Between July 29 and July 31 Bezos sold a little over 900,000 shares of the e-commerce giant when its stock price was around $1,900 a share.

While it’s not the first time Bezos has sold Amazon shares, this appears to be the largest sale, measured in dollars, noted the report.

He sold a chunk of Amazon shares in October 2018 too.

For the second quarter of 2019, the retail giant reported $63.4 billion in revenue with $2.6 billion in net income.

The papers filed by Bezos on Wednesday also showed that he gave his former wife MacKenzie a fourth of his Amazon stake, or 19.7 million shares.

The couple finalised their divorce in April in what was reported as the biggest divorce settlement in history.

MacKenzie has decided to donate half of her $38 billion worth alimony to investor Warren Buffett’s philanthropic campaign — the Giving Pledge.

–IANS

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