Jeff Bezos sells $2 billion of Amazon shares in first stock sale since 2021
Jeff Bezos: Amazon disclosed on February 2 that Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that’s put him within reach of becoming the world’s richest person.
Jeff Bezos has unloaded 12 million shares of Amazon, the first time the billionaire has sold the company’s stock since 2021. The sales took place on Wednesday and Thursday and netted just over $2 billion, according to a Bloomberg report.
Amazon disclosed on February 2 that Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that’s put him within reach of becoming the world’s richest person.
His fortune has climbed $22.6 billion this year to $199.5 billion as of Friday, according to the Bloomberg Billionaires Index.
The Amazon founder has sold over $30 billion in shares since records going back to 2002, including about $20 billion combined in 2020 and 2021. He has primarily been gifting stock, including shares worth roughly $230 million that were given to nonprofit organizations in November.
Why It Matters: Bezos’ decision to sell his shares comes at a time when Amazon’s stock continues to soar.
Bezos’ wealth stood at a little under $178 billion at the end of 2023, but a 16.35% surge in the Amazon stock in 2024 so far has also lifted its founder’s net worth, which touched the $200 billion mark on Friday.
AMZN Price Action: Amazon shares closed at $174.55, up by 2.77% in the last 24 hours, versus a 52-week range of $88.12 to $172.5, according to the data from Benzinga Pro.
With Thanks Reference to: https://www.businesstoday.in/markets/global-markets/story/jeff-bezos-sells-2-billion-of-amazon-shares-in-first-stock-sale-since-2021-416971-2024-02-10 and https://www.benzinga.com/markets/equities/24/02/37049068/jeff-bezos-sells-2b-in-amazon-shares-leaves-door-open-for-additional-6b-sell-off
