According to documents filed with the Securities and Exchange Commission on Wednesday, Bezos sold nearly 740,000 shares on Monday and Tuesday for about $ 2.48 billion. The sales of shares were pre-arranged as part of a 10b5-1 business plan, according to the filings.
Last week, Amazon said it tripled its profits in the first quarter compared to a year ago and expected sales of over $ 110 billion in the second quarter. This should be the last full quarter with Bezos as CEO; earlier this year, Bezos announced he would step down in the third quarter to become executive chairman of Amazon.
Amazon shares AMZN,
have slipped more than 5% over the past week and are stable for the year, although they are up 39% from last year, compared to the S&P 500’s SPX,
46% gain over the past 52 weeks.