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Jeff Bezos selling $1B in Amazon stock yearly to fund rocket company

Amazon.com Inc. CEO and founder Jeff Bezos is divesting about $1 billion of the online retailer's stock per year to fund his Blue Origin rocket company, Reuters reported April 5, citing Bezos.

Addressing reporters at an event, Bezos said Blue Origin planned to start testing flights with pilots and engineers this year, but it is now not expected to happen until 2018. The rocket company reportedly plans to launch 11-minute space rides that will carry six passengers in a gumdrop-shaped capsule, called New Shepard.