Jeff Bezos, the founder of Amazon.com has sold shares in the company worth $736.7 million, according to a financial filing on Tuesday. Bezos, who stepped down as Amazon CEO in 2021 and is currently the chairman of the company's board, sold 3.3 million shares as part of a previously approved stock divestment plan.
Last year, Bezos sold stock worth $4 billion, while in 2021 he offloaded $2.5 billion worth of shares shortly after stepping down as CEO. Bezos has reportedly used a part of those funds to fund his rocket company, Blue Origin.
Bezos' latest sale comes as he and his girlfriend, Lauren Sanchez, tied the knot last week in a lavish wedding in Venice, Italy. The three-day celebration is estimated to have cost around $50 million.
Share sales by top executives and insiders are often viewed as a bearish signal, which also indicates limited confidence in the company’s near-term stock performance.
Bezos founded Amazon in 1994 as an online bookstore, and has today become the world's largest e-commerce and cloud computing services company. With a $2 trillion market capitalization, Amazon is the fourth-most-valued public company in the world.
Bezos is ranked third in Bloomberg’s Billionaires Index with a net worth of about $240 billion.
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