Last week Amazon founder Jeff Bezos sold US$3.3 billion worth of his shares in the company.
That brings the total value of Amazon shares he has sold this year to US$9.9 billion.
Bezos’ stake in the company has dropped from a high of 42% in 1997 to just under 10% today.
The speculation is the sell-off is motivated by a desire on Bezos’ part to devote more time and energy to other projects, including his Earth Fund and Blue Origin.
Here you go.. Amazon stocks are down by 30% in six months after Bezos selling some of the stocks. No insider trading lol