Jeff Bezos expected to sell more Amazon shares worth $1 billion – CNBC

(Reuters) – Amazon.com (NASDAQ:) founder Jeff Bezos is expected to offload more of his stake in the company on Tuesday after selling shares worth about $240 million last week, CNBC reported, citing a source.

Bezos may sell as many as 8 million to 10 million shares, amounting to more than $1 billion, the report said.

A representative for Bezos did not immediately respond to a Reuters request for comment and neither did Amazon, whose shares were trading 2.5% lower on Tuesday.

After stepping down as Amazon’s CEO, Bezos has been liquidating his shares in the e-commerce behemoth to fund his space venture Blue Origin.

Earlier this month, Bezos said he was moving to Miami from Seattle to be near his parents and Blue Origin’s Cape Canaveral operations.