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According to a company filing on Friday, Jeff Bezos, the founder of Amazon.com, has sold approximately 12 million shares of the online retail and cloud services giant for roughly $2 billion.
The sale occurred on Wednesday and Thursday of the same week, as indicated by the filings.
Bezos’s Planned Divestment of Amazon Shares:
Last week, Amazon disclosed Bezos’s intention to sell up to 50 million shares in the company. This move follows a previously established sale plan adopted on Nov. 8, 2023.
The plan outlines Bezos’s gradual divestment of shares over a specific period to complete the process by Jan. 31, 2025, as stated in the company’s latest annual report.
Implementation and Completion of the Sale Plan:
The sale plan is subject to certain conditions and represents a strategic decision by Bezos to gradually reduce his stake in Amazon.
By executing this plan over an extended period, Bezos aims to manage the impact on the company’s stock price and market sentiment.
From Amazon’s Founder to Executive Chairman:
Jeff Bezos founded Amazon as a humble online bookseller in 1994. Over the years, he transformed the company into one of the world’s biggest e-commerce and technology enterprises.
In 2021, Bezos transitioned from his role as Amazon’s chief executive to serve as its executive chairman, focusing on strategic initiatives and long-term vision.
Bezos’s Current Position in the Billionaires Index:
Despite the divestment of Amazon shares, Jeff Bezos remains one of the world’s wealthiest individuals.
According to the Bloomberg Billionaires Index, Bezos is the second richest person globally, with a net worth estimated at $200 billion.
His continued presence at the helm of Amazon’s leadership ensures his ongoing influence in shaping the company’s trajectory and impact on the global economy.
