Jeff Bezos, the founder of Amazon.com, is anticipated to sell more of his stake in the company. Last week, he sold shares valued at around $240 million, and now, according to CNBC, he may offload 8 million to 10 million shares, potentially exceeding $1 billion.
No immediate response was received from a representative for Bezos or Amazon regarding the reported share sale.
Amazon’s shares, however, were trading 2.5% lower on Tuesday.
Since stepping down as Amazon’s CEO, Bezos has been selling his shares in the e-commerce giant to fund his space venture, Blue Origin.
Earlier this month, he announced his move from Seattle to Miami, a decision driven by the proximity to his parents and Blue Origin’s operations in Cape Canaveral.
