Jeff Bezos, the founder of Amazon, has sold around $2 billion worth of Amazon stock in a calculated move that is consistent with his previously stated intention to sell off shares.
According to a recent company filing, Bezos executed the sale of around 12 million shares over a two-day period, following his decision to gradually reduce his stake in the online retail and cloud services giant.
The transaction, which occurred on Wednesday and Thursday, comes on the heels of Amazon’s disclosure last week regarding Bezos’s intention to sell up to 50 million shares in the company.
This planned divestment, subject to specific conditions, was formalized on November 8, 2023, as outlined in Amazon’s latest annual report. The process is slated for completion by January 31, 2025.
Bezos, who transitioned from his role as Amazon’s CEO to that of executive chairman in 2021, has been pivotal in the company’s evolution since its inception as a humble bookseller in 1994.
Currently ranked as the world’s second-richest individual with an estimated net worth of $200 billion, according to the Bloomberg Billionaires Index, Bezos’s strategic decisions continue to influence both Amazon’s trajectory and the broader financial landscape.
