Jeff Bezos Set to Sell More Amazon Shares Worth US$1 Billion

According to CNBC, Jeff Bezos, the founder of Amazon.com, is expected to sell more of his stake in the company, with the shares estimated to be worth around US$1 billion.

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This comes after Bezos sold approximately US$240 million worth of shares last week. The report suggests that Bezos may sell between 8 million to 10 million shares.

Bezos has been gradually liquidating his Amazon shares since stepping down as CEO, using the proceeds to fund his space venture, Blue Origin. The move to sell more shares aligns with his ongoing strategy to support his space exploration endeavours.

Neither Bezos nor Amazon has provided any immediate comment on the matter. However, the news of Bezos' potential share sale has caused Amazon's stock to trade 2.5% lower.

Bezos recently announced his decision to relocate from Seattle to Miami to be closer to his parents and Blue Origin's operations in Cape Canaveral.

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• Jeff Bezos is expected to sell more Amazon shares worth approximately $1 billion.

• This follows his previous sale of shares worth around $240 million.

• Bezos has been gradually selling his Amazon shares to fund his space venture, Blue Origin.

Source: REUTERS