Jeff Bezos sells $671m of Amazon stock

Founder and CEO of Amazon Jeff Bezos sold just 1% of his Amazon shares in early May and netted $671m (£465m) in the process, according to documents filed with the US authorities. The shares were sold over the course of two days at the start of the month.

It’s estimated by Forbes that Bezos’s net worth is $45.2bn. Neither Bezos nor the company has revealed the reason why Bezos has off-loaded the stock but the Amazon share price has risen steadily over the course of the year and it’s estimated that 90% of Bezos’s wealth is tied up in Amazon, so it makes sense to diversify.

He also owns The Washington Post and space exploration company called Blue Origin.