Get Your Crypto Better SIM Apps. Learn More!

Bezos Sells $2 Billion of Amazon Shares

This mark the first time he's done so in over 2 years.
Amazon

Amazon founder Jeff Bezos shed roughly $2 billion worth of the company's shares this week, marking his first stock sale since 2021. The move, disclosed in a regulatory filing, saw Bezos sell around 12 million shares at prices ranging from $169.71 to $171.02 per share.

This divestiture comes shortly after Amazon announced Bezos's intent to sell up to 50 million shares over the next year, a plan subject to market conditions and other factors.

While the exact reasons behind the sale remain unconfirmed, speculation abounds. Some experts suggest it could be part of a broader diversification strategy, funding Bezos's ambitious spacefaring venture Blue Origin, or simply a way to manage his vast wealth.

"This is a significant sale, but it's important to remember it's part of a pre-announced plan," cautioned analyst Michael Pachter. "Bezos still holds a substantial stake in Amazon, and the company's fundamentals remain strong."

Indeed, the stock sale coincided with a surge in Amazon's share price, pushing Bezos closer to reclaiming the title of world's richest person. He is currently the world's second richest person with a net worth of $200 billion, according to Bloomberg Billionaires Index. This suggests investor confidence in the company's continued growth, despite broader market uncertainties.

The question of Bezos's future involvement with Amazon remains a matter of keen interest. He stepped down as CEO in 2021 but maintains a significant influence as executive chairman. Whether this latest stock sale signals a more hands-off approach or simply a financial maneuver is yet to be seen.

One thing is certain: Jeff Bezos's actions continue to hold weight in the business world, and his future endeavors will be closely watched. Bezos, who stepped down as the company's chief executive and took over as executive chairman in 2021, founded Amazon as a bookseller in 1994.

Found this article interesting? Follow us on WHATSAPP, TWITTER, TELEGRAM or LINKEDIN to read more exclusive content we post.

About the Author

With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

Post a Comment

If you're finding this article interesting, please follow us on WHATSAPP, TWITTER, TELEGRAM or LINKEDIN to read more exclusive contents we post.

Oops!
It seems there is something wrong with your internet connection. Please connect to the internet and start browsing again.
AdBlock Detected!
We have detected that you are using adblocking plugin in your browser.
The revenue we earn by the advertisements is used to manage this website, we request you to whitelist our website in your adblocking plugin.
Site is Blocked
Sorry! This site is not available in your country.