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Bezos Sells off a record $757 Million of Amazon

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was hard to imagine life getting better for longtime Trekkie Jeff Bezos than when he made his Hollywood debut in the latest Star Trek movie last month. But that was before he went and sold 1 million Amazon shares last week for $757 million, according to a regulatory filing, a record amount for the founder and C.E.O.

Being a multi-billionaire on paper is nice, but cash on hand is nicer. As it happens, in the last three months alone, Bezos has cashed in on $1.4 billion worth of Amazon shares, including the 1 million shares he offloaded for $671 million in May. Both sales occurred just after Amazon reported strong quarterly results that beat Wall Street expectations and boosted the e-commerce giant’s stock price, which has leapt 45 percent in the last year. It’s not as though Bezos is in a panic to get rid of the shares while they’re hot or do anything untoward; according to the regulatory filing, Bezos was on a set schedule to get rid of 1 million shares just after each quarter. If the results hadn’t been so good and the stock price wasn’t so high, he still would have had to make the sale. – READ MORE

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  • Highway ! Road

    This is under a billion… Zuckerburg took 13B in Class B share cash out Altman’s firm designed it for 160m. The question you have to ask is how Wall street allowed Amazon to create an absolute monopoly on book sales and then let them squeeze profits out of every producer by inserting as middle man in sales. These companies are supported by huge contracts from NSA on AWS services.. Ben Franklin and Lysander Spooner both fought the Post office and these guys are nothing more than government protected monopolies. Drudge calls it internet ghetto. I tend to think of it as criminal market manipulation and tremendous 4th amendment bastardization by internet version of banking middlemen. Don’t take Man Economy and State as a Bible (could go on that) but it may be a start.. The biggest problem is not discussing problems (lack of education).. and of course defense (?) jobs are 9m NSA 300K…