Jeff Bezos, the founder of Amazon and one of the world’s wealthiest individuals, has recently sold approximately $4 billion worth of Amazon (NASDAQ: AMZN) shares.
February 15, 2024
In a notable development within the tech and investment world, Jeff Bezos, the founder of Amazon and one of the world’s wealthiest individuals, has recently sold approximately $4 billion worth of Amazon (NASDAQ: AMZN) shares. This divestiture, as reported by The Financial Times, was disclosed through regulatory filings and marks a significant transaction by Bezos, who transitioned from his role as CEO to executive chair of the company in 2021.
The filings revealed that over the last week Bezos disposed of 12 million shares, amounting to around $2 billion, following a similar sale of shares worth $2 billion the previous week. This is part of a pre-planned strategy, with Amazon announcing earlier in February that Bezos intended to sell up to 50 million shares through Morgan Stanley by January 2025.
Despite these substantial sales, Bezos retains a significant stake in Amazon, holding approximately 9% of the company, making him the largest shareholder. This move comes at a time when Amazon’s stock has experienced a remarkable surge, increasing by over 50% in the past year and propelling the company’s market value to a staggering $1.75 trillion.
Bezos’s decision to sell off part of his Amazon holdings follows his shift in focus towards other ventures, notably his space exploration company, Blue Origin. As Amazon continues to thrive in the market, the implications of Bezos’s sales and his ongoing ventures remain a point of interest for investors and industry observers.
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