Amazon Founder Bezos Offloads Shares

Amazon Founder Bezos Offloads Shares

February 15, 2024

Jeff Bezos, the founder of Amazon, has recently divested approximately $2.03 billion worth of shares in his company over the past days, according to regulatory filings. This brings his total sales for the month to over $6 billion. The transactions, involving about 12 million Amazon shares at an average price of $169.50 per share, were executed under a trading plan initiated in November. Bezos could potentially sell up to 50 million shares of Amazon, as stated in Amazon's annual filing.

These sales mark Bezos' first stock divestments since May 2021 when he stepped down as CEO, although he did gift around $240 million in Amazon shares last year. In November, Bezos announced his move from Seattle to Miami, bringing him closer to his space exploration company Blue Origin and his fiancée Lauren Sanchez's family. This relocation could potentially lead to substantial tax savings on the share sales.

Currently, Bezos holds the position of the world's third-wealthiest individual, with a net worth of $191.4 billion according to Forbes. His Amazon holdings have decreased slightly from 976.25 million shares to 952.26 million shares after the February sales.

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