Amazon CEO Jeff Bezos Just Made $755 Million Selling AMZN Stock

amazon-amzn-logoOnline retail superpower Amazon.com, Inc. (NASDAQ:AMZN) stock has been doing great lately, and CEO Jeff Bezos is taking advantage by selling a whole bunch of shares.

According to an SEC filing, Bezos dumped around one million shares this week. The total value of the sale is around $755 million.

Should investors read too much into the sale? In any other case I’d say yes, but with Bezos, it’s probably not a signal that he thinks AMZN is overvalued, or that there’s danger on the horizon. Bezos probably just wants the money to use on another one of his pet projects.

Amazon’s CEO owns stakes in a rocket company, the Washington Post, a social network, various media companies, robotics firms, and more. It’ll be interesting to see where such a large chunk of cash goes, because Bezos does seem to have a Midas touch with many of his investments.

So what’s the most valuable takeaway from this massive stock sale? It’s very simple: sell high.

Amazon shares rose $2.91 (+0.38%) to $763.68 in premarket trading Friday. AMZN has gained 12.56% year-to-date, versus a 6% rise in the benchmark S&P 500 index.

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