Jeff Bezos Sells 12 Million Amazon Shares, Making First Move of 2022
February 10, 2022
In a surprising move, Jeff Bezos has sold 12 million shares of Amazon.com this week, marking his first instance of disposing of the company’s stock since 2021. According to a recent filing, the transactions took place on February 7 and 8, resulting in a substantial yield of just over US$2 billion (S$2.7 billion).
This sale comes shortly after Amazon announced on February 2 that Bezos planned to offload up to 50 million shares of the company within the next year. The decision seems to be a strategic move to take advantage of the recent surge in Amazon’s stock value and potentially edging Bezos closer to claiming the title of the world’s wealthiest individual. As of February 9, his fortune has skyrocketed by an impressive US$22.6 billion this year alone, bringing his total wealth to a staggering US$199.5 billion, as reported by the Bloomberg Billionaires Index.
When looking at Bezos’ history of stock movements, it becomes evident that he has been actively divesting his Amazon shares over the years. Since 2002, records reveal that he has sold over US$30 billion worth of shares, with around US$20 billion being sold between 2020 and 2021. Notably, Bezos has predominantly engaged in stock gifting activities, including a generous donation of shares valued at approximately US$230 million to nonprofit organizations in November.
With his recent decision to sell 12 million Amazon shares, Bezos continues to shape his financial portfolio and leverage the current stock market climate. As the Amazon founder embarks on a new chapter in his entrepreneurial journey, the world eagerly awaits to see what moves he will make next.
Analyst comment
Positive news: Jeff Bezos selling 12 million Amazon shares is a strategic move to take advantage of the company’s increased stock value and boost Bezos’ wealth. The market may see a short-term decline in Amazon’s stock price due to the transaction, but it is likely to recover as Bezos’ action signals confidence in the company’s performance.
