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Jeff Bezos Has A $1.1B Payday

The surge in Amazon stock following last month's better-than-expected third-quarter earnings catapulted him back into World's Richest Person status.

The surge in Amazon stock following last month’s better-than-expected third-quarter earnings catapulted CEO and founder Jeff Bezos back into World’s Richest Person status. Which gave him the latitude to sell 1 million shares of his company, worth nearly $1.1 billion, and still leaving him in control of about 16 percent of the business. What to do with all that cash? Speculation circles around his commercial space flight start-up, Blue Origin, and/or philanthropic efforts.

“Amazon CEO Jeff Bezos, the newly minted richest person in the world, just sold more than $1 billion worth of his stock.”

See the full story at CNN.