Sources say Bezos will sell $1 billion worth of Amazon shares, which cashed out about $240 million last week

CTOnews.com, Nov. 22 (Xinhua) Amazon founder Jeff Bezos is expected to sell more Amazon shares on Tuesday, local time, according to CNBC.

It is reported that Bezos could sell as many as 8 million to 10 million shares, with a total value of more than $1 billion (currently about 7.17 billion yuan), while he sold about $240 million of shares last week (CTOnews.com Note: about 1.721 billion yuan).

Bezos's representative did not immediately respond, nor did Amazon, but Amazon's shares fell more than 2% during the opening and after-hours trading on Tuesday.

In fact, since resigning as Amazon's CEO, Bezos has been liquidating his stake to fund his space exploration company, Blue Origin.

Earlier this month, Bezos said he would move from Seattle to Miami to get close to his parents and Blue Origin operations in Cape Canaveral.