Jeff Bezos dumped $1.8 billion in Amazon stock after its share price skyrocketed
- Amazon CEO Jeff Bezos has sold $1.8 billion of Amazon shares according to SEC filings.
- Amazon shares saw a huge spike last week after the company's triumphant 2019 earnings report.
- This isn't the first time Bezos has cashed in billions of dollars worth of shares.
- Visit Business Insider's homepage for more stories.
As Amazon's share price soared last week, Jeff Bezos cashed in a tonne of shares.
SEC filings first spotted by CNBC show Bezos started selling off his shares according to a pre-arranged sales plan starting on January 31 and going through to February 3. In total he dumped 905,456 shares, meaning a gain of $1.84 billion.
Amazon's share price spiked following the company's 2019 full-year earnings call on January 30, when it reported earnings far above Wall Street's expectations. The company cracked a market cap of $1 trillion after the publication of its earnings, a feat it first managed in September 2018. The surge in Amazon's share price increased Bezos' personal wealth by $13.5 billion.
Bezos has been known to make similarly massive shares sales in the past. In July and August 2019 he sold almost $3 billion, and the billionaire said in 2017 that he sells at least $1 billion in shares per year to funnel into his space exploration company Blue Origin.
