The world’s richest man just pocketed $3.1 billion. Regulatory filings show Amazon CEO and founder Jeff Bezos sold 1 million shares of the e-commerce company during the first two working days of August.
Amazon’s shares have jumped more than 73% this year, and the company last week posted the biggest profit in in its 26 year history as its customers stayed home and ordered household essentials online.
The stock sales come just one week after Bezos and the CEOs of other tech titans testified before a congressional hearing on the alleged abuse of market power.
Bezos - Amazon’s biggest shareholder - regularly sells shares to invest in his other businesses. Three years ago, he said he would sell about $1 billion worth of company stock every year to fund his rocket company, Blue Origin, which aims to take passengers on rides to space.
Even with the sale, Bezos still holds more than 54 million Amazon shares worth around $175 billion