Jeff Bezos dumped $1.8 billion in Amazon stock after its share price skyrocketed - Business Insider

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.