Jeff Bezos sells one million Amazon shares, makes one billion dollars
He'll probably burn it all up at high altitude ... in a rocket
Amazon.com founder, CEO and president Jeff Bezos has sold a million shares in his own company and reaped over a billion dollars from the transaction.
As this filing with the United States Securities and Exchange Commission shows, Bezos last week offloaded 30 parcels of shares, and a million shares in total. Buyers paid differing prices for the scrip, but most of it sold for a few dollars either side of US$1,100.
Bezos' sell-off appears not to have hurt the company, as its share price has since risen. He's also in little danger of losing control of the company, as he still owns around 16 per cent of its shares.
All of which means it is time to turn our attention to what he plans to do with all that lovely loot.
Bezos has previously said he sinks about a billion a year into Blue Origin LLC, his rocketry venture. But of course a tech billionaire could have all manner of expensive requirements, from buying a newspaper to entering a yacht race, building a stupidly large house or having their bodies frozen for posterity. ®