Dive Summary:

• Following the widely-publicized purchase of The Washington Post by billionaire Jeff Bezos, the Amazon founder has sold 1 million of his shares in Amazon.com.
• The purchase of The Washington Post set Bezos back roughly $250 million. The sale of his Amazon stock comes in at nearly $270 million for precisely 1 million shares.
• Despite his sale of the stock, Bezos remains the largest Amazon shareholder with nearly 84 million remaining shares.

Dive Insight:

Despite the fact that Amazon has never been a profitable retailer, investors are smitten with its ability to move titanic volumes of merchandise and stock value for the company continues to climb. Third quarter revenue for Amazon reached $17 billion - with a net loss of $41 million that investors still don’t seem to mind.