Jeff Bezos sells $2 billion worth of Amazon stock
Jeff Bezos has disposed $2 billion shares worth more than $4 billion. The sale was carried out in just four trading days, Bloomberg reported on Wednesday.
5:19 PM EST, February 14, 2024
Amazon's founder no longer believes in his company?
In recent days, Jeff Bezos, Amazon's founder and former CEO, has made a significant sale of shares in his e-commerce giant. A filing with the U.S. Securities and Exchange Commission reveals the sale of nearly 12 million Amazon shares, worth more than $2 billion. This transaction, made on February 7 and 8, represents a significant financial move for one of the most influential figures in the world of technology and business.
Bezos, who stepped down as Amazon's CEO in 2021 to focus on other projects such as rocket company Blue Origin and philanthropic work, remains one of the world's richest people. His decision to sell so many shares may raise speculation about the motives behind the move and its potential implications for Amazon and the stock market.
50 million Amazon shares by 2025
According to CNBC News, the transactions were carried out in accordance with a trading plan that Bezos set up in November, a detail that was disclosed in Amazon's annual filing for 2023 earlier this month. Under this plan, Bezos intends to sell 50 million Amazon shares by January 31, 2025.
Jeff Bezos founded Amazon in 1994. Originally, it was just an online bookstore. Since then, however, the company has transformed into an e-commerce giant. Currently, he holds the position of the second wealthiest individual globally, with a net worth estimated at $200 billion, as per the Bloomberg Billionaires Index.
Source: CNBC News, Reuters
