August 6, 2019 / 2:58 AM / a month ago

Jeff Bezos sells Amazon stock worth $2.8 billion last week

FILE PHOTO - Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, Massachusetts, U.S., June 19, 2019. REUTERS/Katherine Taylor

(Reuters) - Amazon.com Inc (AMZN.O) Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion.

In the last three days of July, Bezos has sold stock worth about $1.8 billion, regulatory filings (here) with the Securities and Exchange Commission showed.

Amazon declined to comment on Bezos’ stock sale.

The move comes as part of a previously announced 10b5-1 trading plan. Bezos had previously said he plans to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin.

Bezos’ former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than $37 billion, is now the online retailer’s second largest individual shareholder.

Reporting by Manojna Maddipatla in Bengaluru and Jeffrey Dastin in San Francisco; editing by Gopakumar Warrier

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