Jeff Bezos, Chairman, CEO and President of Amazon.com, Inc. (NASDAQ:AMZN), has sold a large sum of his stock in the company.
Jeff Bezos sold about one million shares of AMZN stock over a period of three days. The sales started on Tuesday, May 2, 2017 and finished on Thursday, May 4, 2017. The offloading of the Amazon.com, Inc. stock brought the CEO $940.74 million.
The large sale made by Jeff Bezos is likely going to fund his space transportation efforts. The Amazon.com, Inc. CEO revealed earlier this year that he sells $1 billion worth of AMZN stock per year to fund Blue Origin.
Blue Origin is Jeff Bezos’ idea for allowing people to make short trips into space. This includes tourists and putting satellites in orbit. He is already planning to build a rocket named New Glenn for the journeys that will cost him $2.5 billion to complete.
Jeff Bezos really believes that tourists will pay big bucks to see the Earth from space. He is also having the capsule for the trip designed with this in mind. The capsule will have several massive windows on it to give future customers the best view of the Earth they’ll likely ever get.
Jeff Bezos’ recent sale of Amazon.com, Inc. stock already has him close to his yearly funding goal for Blue Origin. He was helped along the way this year by a significant increase to AMZN stock, which was up roughly 25% year-to-date at the time of the sale.
AMZN stock was down slightly as of Friday morning.
