Jeff Bezos sells one million shares of his Amazon stock

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Jeff Bezos Sells One Million Shares of His Amazon Stock

Amazon CEO Jeff Bezos sold about a million shares of Amazon, around 1% of his stake, and netted $671 million, according to a filing with the Securities and Exchange Commission spotted by Fortune.

This is the biggest sale Bezos has ever made of the stock. He sold $534 million of shares last August, according to GeekWire.

After the sale, Bezos owns 81.91 million shares (~17% of Amazon).

Click through for Bezos' 10 insider secrets to success:

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Jeff Bezos sells one million shares of his Amazon stock

Use your childhood passions as a starting point

Bezos' passion for science as a child fueled his ability to create, innovate and discover.

It's reported that he invented an electric alarm in his parents' garage to keep his half-siblings out of his room. 

Photo credit: Getty

Remember where you came from

Bezos used to spend his summers working on his grandfather's cattle farm. It's helped keep Bezos humble, and serves as a reminder to always work hard.

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Be prepared for ideas to strike you at any time

Bezos wrote down his business plan on a car ride from NY to Seattle.

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Be open to rebranding

Bezos originally wanted to call Amazon "Cadabra" but changed his mind when potential customers were mispronouncing and mishearing the name. 

Another former name, "Relentless," still redirects its URL to Amazon today.

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Adopt a unique management strategy

Bezos implements a company policy in which each employee has to spend two days after every two years at the customer service desk.

Best part? This includes Bezos himself.

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Abide by the "Two Pizza Rule"

Bezo's golden rule: In order to have a successful business venture, one should form small teams consisting of the number of people it would take to finish two pizzas.

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Don't think that you're immune to failure

Amazon.com crashed for 40 minutes in 2013, costing the company $4.8M. 

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Never stop expanding 

Since Amazon has launched, the company has made several million-dollar acquisitions, such as Zappos, IMDB and The Washington Post.

Bezos also founded a space travel company called Blue Origin in 2000 and is currently chairing the construction of  a 10,000 year clock in Texas.

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Train your employees for success, no matter where they go

Amazon employees leave the company skilled and ready to blaze trails of their own. Former employees include Jason Kilar (founder of Hulu and Vessel) and Charlie Cheever (founder of Quora).

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Don't limit yourself to one specialty 

Amazon started solely as an e-book seller. The company now sells goods across over 15 categories.

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This sale comes after Amazon reported a stellar first quarter last week. The company had a huge beat across the board, and the stock shot up 12% in after-hours trading. Amazon grew profitability, its Amazon Web Services arm, and its international business. And Wall Street loved it, as evidenced by gushing analysts notes in the aftermath.

Here is a chart of how Amazon fared in its latest earnings compared to other high-profile tech firms:

20160502_tech_earnings_2016Jason Redmond / REUTERS

Additional reporting by Eugene Kim.

NOW WATCH: Here's how to see how much you've spent on Amazon in your lifetime

RELATED: See 17 amazing items you can buy on Amazon for under $25:

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Items on Amazon under $25
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Jeff Bezos sells one million shares of his Amazon stock

Slow cooker crock pot, $20.99

Photo: Amazon

World’s strongest coffee, $18.99

Photo: Amazon

Toilet golf game, $11.99

Photo: Amazon

Potato chip bag resealer, $15.99

Photo: Amazon

Lifestraw water filter, $19.90

Photo: Amazon

Stuffed hamburger press, $10.29

Photo: Amazon

Camera lens coffee mug, $11.99

Photo: Amazon

Miracle berry tablets, $25.00

Note: These tablets transform ordinary foods into the extraordinary -- and mask sours food to taste sweet. 

Photo: Amazon

Ice luge, $21.30

Photo: Amazon

Glass ziplock bag, $16.85

Photo: Amazon

2nd skin unisuit, $25

Photo: Amazon

Retro corded iPhone handset , $20.99

Photo: Amazon

Unicorn mask, $16.98

Photo: Amazon

Venus fly trap, $14.99

Photo: Amazon

4,500 live ladybugs, $14.25

Photo: Amazon

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See Also:
22 charts that show the incredible growth of Amazon Prime
How Amazon's Netflix competitor could be a success without making any money — and what that means for Netflix
Iranian government officials who bought things on Amazon got their accounts suspended

SEE ALSO: Amazon crushes earnings, stock goes crazy

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