Bezos Sells 1.1B Worth of AMZN Stock

Today, Jeff Bezos (CEO of Amazon for those of you living under a rock) sold over $1B worth of AMZN shares as the stock reached its all time high. Following Amazon's earnings the stock grew 8%, again making Bezos the richest person in the world. Bezos still currently owns about 16% of Amazon according to CNN Money. Read more http://fortune.com/2017/11/05/jeff-bezos-sells-Am…
* Does this indicate the Bezos believes AMZN is overvalued?

  • Do you think AMZN is overvalued? 283 PE seems a bit high...
 
Best Response

It was $1B not $1M, and that only represented ~1% of his total shares and less than a quarter of a percent of his total Amazon ownership. There is also this:

"One possible destination for the cash Bezos just freed up is his commercial space company, Blue Origin. Earlier this year, Bezos told reporters at a space symposium that he sells about $1 billion per year worth of Amazon stock to fund the company, according to Reuters."

 

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