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Jeff Bezos Sells $1.8 Bln In Amazon Shares

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Amazon.com Inc.'s Founder and Chief Executive Officer Jeff Bezos has sold more than $1.8 billion of shares in the e-commerce giant over the past week, regulatory filings show.

Bezos sold 905,456 shares in Amazon for a total of $1.84 billion on January 31 and February 3, 2020. The share sale was executed under a pre-arranged trading plan.

After the stock sale, Bezos now owns 56.65 million shares in Amazon.

The news comes as Amazon's closed Tuesday's trading with a market capitalization of $1 trillion, enabling it to join fellow tech giants Apple, Google and Microsoft in the trillion-dollar club.

Amazon first touched the $1 trillion mark in intraday trading in 2018. Last Friday and Monday too, the company touched $1 trillion in intraday trading, but failed to end trading on both days above the $1 trillion mark.

Seattle, Washington-based Amazon's shares surged on January 30 after the online retail giant's holiday-season-quarter results trumped analysts' estimates.

Last year too, Bezos went on a stock selling spree. The CEO sold $2.8 billion worth of shares in Amazon in August. At that time, Bezos donated 268 shares to an unnamed non-profit organization. The shares were worth about $500,000.

The reason for Bezos' latest share sale is not known. However, Bezos has said his plan is to sell stock worth about $1 billion every year to fund his space startup, Blue Origin.

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