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Bezos sells $1.7B worth of Amazon shares ahead of earnings

Business

Amazon founder Jeff Bezos sold $1.7 billion worth of Amazon shares on July 21 and 22, 2023, bringing his total sales since late June to nearly $5.7 billion—right after his wedding and just ahead of Amazon's upcoming earnings report.
All these sales follow a preset schedule under SEC Rule 10b5-1, which helps insiders avoid any insider trading issues.

Bezos's cashout and Amazon's Q2 earnings

Bezos has been steadily cashing out—over $50 billion since 2002—but he's only bought Amazon shares once in the past two years. He reportedly plans to keep selling more shares down the road.
Meanwhile, all eyes are on Amazon's Q2 earnings dropping July 31, with analysts expecting both revenue and profits to top last year's numbers.