Jeff Bezos has sold 521,936 Amazon shares at a cost of $1.7 billion according to Bloomberg. The sale now brings the total share sale for the month to $6.7 billion.
The $6.7 billion has been sold in 3 batches in May representing 2 million shares.
Bezos owns 10% of Amazon which is the highest of his $188 billion worth of wealth.
Investors have shied away from tech stocks over inflation fears which saw Amazon shares flop by 7% in April despite having climbed by 76% last year.
In 1997, 15 years after going public Bezos was able to sell a fifth of Amazon for around $2 billion.
Bezos is using the Amazon share sale to fund rocket company Blue Origin.
$10 billion has been set to help Earth Fund in the fight against effects of climate change.
Bezos is also using the funds to build one of the world’s biggest mega yachts as well as invest in real estate.
Amazon is currently declining, AMZN: NASDAQ is down 1.77%.