Jeff Bezos Sells $2 Billion Worth of Amazon Shares

Bezos Executes Strategic Share Sell-off, Continues to Reshape Amazon's Future

Feb 10, 2024 - 12:40
Feb 10, 2024 - 12:41
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Jeff Bezos Sells $2 Billion Worth of Amazon Shares
Jeff Bezos Sells $2 Billion Worth of Amazon Shares

Jeff Bezos, the founder of Amazon.com, has completed the sale of approximately 12 million shares of the popular online retail and cloud services company. This transaction fetched Bezos an estimated $2 billion. The decision to sell came shortly after Bezos revealed his plan to gradually sell off his shares over the next year.

Amazon shares

The sale took place over two days, Wednesday and Thursday, as detailed in official company filings.

Just last week, Amazon announced Bezos's intention to sell up to 50 million shares in the company.

The sales plan was put into motion on November 8, 2023, and is expected to conclude by January 31, 2025, as outlined in Amazon's latest annual report. Bezos, who founded Amazon as an online bookstore in 1994, stepped down from his role as CEO in 2021 and assumed the position of executive chairman.

According to the Bloomberg Billionaires Index, Bezos is currently ranked as the world's second-richest individual, with a sizable net worth of $200 billion.

Also Read: Alibaba Announces $25 Billion Stock Buyback to Tackle Growth Worries Amid Competition

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