Amazon CEO Sold $63 Million in Stock

On the eve of the Amazon.com Inc. press conference, one financial reporter noticed that Jeff Bezos has sold off millions of dollars in company stock. According to stock sales aggregated by The Pragmatic Capitalist, the Amazon CEO sold more than $63 million worth of Amazon stock on May 1st–joining a list of other executives selling off stock.

Business Insider speculated about the sell-off: “If nothing else, it means that a lot of executives probably saw the abyss (a violent drop from the ranks of the wealthy to poor) and want to de-risk to ensure that no matter what happens to their stock, they’ve taken some skin out of the game.”

No matter what it means, GalleyCat will be at Amazon’s press conference tomorrow, most likely bringing you news of large-screen Amazon Kindles and a digital textbooks. (Via The Awl)

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