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Jeff Bezos sells US$3.1 billion worth of Amazon shares

Jeff Bezos sells US$3.1 billion worth of Amazon shares

FILE PHOTO: Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC's "Milestone Celebration Dinner" in Washington, US, Sep 13, 2018. (REUTERS/Joshua Roberts/File Photo)

SEATTLE: Amazon.com CEO Jeff Bezos sold shares worth US$3.1 billion in the e-commerce company in recent days, regulatory filings showed on Wednesday (Aug 5).

The stock sale comes at a time when the company's shares have surged more than 73 per cent this year.

During the first two working days of August, Bezos sold 1 million shares as part of a previously announced trading plan, according to the filings.

Bezos, the world's richest man, had said he planned to sell stock worth about US$1 billion each year to fund his rocket company, Blue Origin.

The latest share sale leaves him with 54.5 million shares worth roughly US$174.64 billion at the current market price.

Source: Reuters

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