Amazon Founder Jeff Bezos Sells $2 Billion Worth of Company Shares
In a significant move, Amazon founder Jeff Bezos has sold $2 billion worth of company shares. This marks his first major stock sale since 2021.
Bezos Nets $2 Billion from the Sale
Bezos sold 12 million Amazon shares in multiple transactions on Wednesday and Thursday, according to a filing with the U.S. Securities and Exchange Commission (SEC). This resulted in the billionaire netting a little over $2 billion.
Bezos’ Future Plans to Offload Shares
Amazon disclosed on February 2 that Bezos plans to sell up to 50 million shares over the next year. Additionally, Bezos still has 38 million shares he plans to offload in the next 12 months. This could potentially earn him a further $6 billion to $6.5 billion based on current prices.
Capitalizing on Stock Surge
This move by Bezos comes at a time when Amazon’s stock continues to surge. Bezos’ fortune has already increased by $22.6 billion this year, reaching $200 billion. With this increase, Bezos is inching closer to becoming the world’s wealthiest individual, currently held by Tesla CEO Elon Musk, who has a wealth of $209 billion.
Bezos’ History of Selling Amazon Shares
Since 2002, Bezos has sold over $30 billion in Amazon shares, including approximately $20 billion in 2020 and 2021. Additionally, Bezos has also gifted $230 million worth of Amazon shares to non-profit organizations.
No Comment from Amazon
Amazon declined to comment on Bezos’ recent share sale.
Amazon’s Stock Performance
Amazon stock has had a significant surge this year, with a 16.35% increase so far. This rise has contributed to Bezos’ wealth, surpassing the $200 billion mark.
It is important to note that this article was produced with the help of Benzinga Neuro and reviewed by Benzinga editors.
Analyst comment
Positive news. As an analyst, the market is expected to remain bullish with the potential for further stock surges as Bezos continues to offload shares. However, investors should closely monitor the impact on Amazon’s stock performance and potential shifts in Bezos’ wealth rankings.
