In a significant move, Jeff Bezos, the founder of Amazon.com Inc., has sold 12 million shares of the company’s stock this week, marking his first major stock sale since 2021.
According to a filing, the sales occurred on Wednesday and Thursday, amounting to just over $2 billion in net proceeds.
Bezos’s decision to sell shares comes after Amazon disclosed on Feb. 2 his intention to offload as many as 50 million shares over the next 12 months. This move potentially capitalizes on a stock surge that has positioned him close to becoming the world’s richest person. As of Friday, his fortune has soared to $199.5 billion, increasing by $22.6 billion since the beginning of the year, as per the Bloomberg Billionaires Index.
It’s worth noting that Bezos has a history of selling Amazon shares, having previously unloaded over $30 billion worth of stock since records dating back to 2002. Notably, in 2020 and 2021 combined, he sold approximately $20 billion worth of shares. However, Bezos has also been active in philanthropy, often gifting shares, including a notable contribution of shares valued at around $230 million to nonprofit organizations in November.
This recent stock sale further underscores Bezos’s strategic financial moves and the evolving dynamics of his wealth management strategy.
