Amazon’s founder, Jeff Bezos, has sold 6.6 million Amazon shares worth around $1.5 billion, according to a report by Barron’s. The sale was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) and took place on July 21 and 22, just before Amazon’s upcoming quarterly earnings report on July 31.
This sale was done through a pre-planned trading program called Rule 10b5-1, which allows company insiders like Bezos to sell shares at scheduled times. This rule helps them avoid any accusations of insider trading since the sale plan is set in advance and not based on any insider information.
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What Is Rule 10b5-1?
Rule 10b5-1 is a regulation that allows major shareholders and company executives to sell stocks in a planned and legal way. It’s a way to avoid legal trouble and maintain transparency when selling large amounts of stock.
Bezos Plans to Sell More
According to the same report, Bezos is not finished selling yet. Earlier in July, he sold $737 million worth of Amazon shares. Over the last two years, he has sold stocks worth around $4.8 billion.
Even after these sales, Bezos still owns 4.6 million shares of Amazon, valued at about $1 billion. He plans to sell up to 25 million shares under this trading plan, which is valid until May 29, 2026.
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Jeff Bezos is continuing to sell portions of his Amazon stock through a legal and transparent process, and he’s expected to sell more in the coming years.
