The online-shopping giant's founder and CEO sold more than 1.7 million shares, or about 3% of his total holdings.
The pre-arranged sales represent about 3% of the Amazon chief’s holdings. Bezos – the world’s wealthiest man with an estimated fortune of $126 billion,– scheduled the sales to occur after Amazon blew away earnings forecasts last week.
Amazon’s stock price has jumped by a quarter in the past year and 11% since the start of this year, boosting the company’s market capitalization to north of $1 trillion. The company has benefited from its explosive cloud-storage business, Amazon Web Services, as well as popular offerings such as its voice-controlled smart devices and video-streaming service.
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