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Monday, February 26, 2024
HomeFinance NewsJeff Bezos offloads about $2 billion worth of Amazon stocks.

Jeff Bezos offloads about $2 billion worth of Amazon stocks.

Amazon.com founder Jeff Bezos recently sold approximately 12 million shares of the online retail and cloud services company for approximately $2 billion. This sale comes shortly after Bezos announced his plan to sell up to 50 million shares over the next year. The sale took place over two days, as indicated by company filings.

Bezos’ decision to sell a significant portion of his Amazon shares is part of a predetermined plan that was adopted in November 2023. The plan is set to be completed by January 2025, according to the company’s latest annual report. This move comes as Bezos transitioned from his role as chief executive to executive chairman in 2021. Despite this significant divestment, Bezos remains the world’s second richest person with a net worth of $200 billion, according to Bloomberg Billionaires Index.

This substantial sale of Amazon shares by Bezos has garnered attention as it marks a significant shift in his ownership in the company he founded as a bookseller in 1994. With the planned sale set to continue over the next year, it will be interesting to see the impact on both Bezos’ personal wealth and Amazon’s stock performance. The move further solidifies Bezos’ status as one of the world’s most influential and wealthy individuals.

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