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Bezos Sells $757 Million of Amazon Shares

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Amazon.com founder and CEO Jeff Bezos sold one million shares of his holdings in the company raising $757 million.

Bezos benefited some from the stock market reaction to impressive quarterly results at Amazon. The e-commerce giant reported revenue of $30.4 billion, up 31% from a year earlier, and adjusted profit per shares of $1.78, versus just 19 cents per share a year earlier.

Amazon has benefitted this year not just from strong online sales of all kinds of merchandise, but also from the increasing popularity of its cloud software business.

Bezos, who founded the site as an online bookseller in 1994, still owns 80.9 million shares worth $62 billion