February 27, 2024 11:08 am
Jeff Bezos offloads two billion dollars of Amazon shares

On Friday, Jeff Bezos sold about $2 billion worth of shares in Amazon, equivalent to around 1.8 billion euros. The document filed with the stock exchange stated that Bezos sold 12 million Amazon shares on Wednesday and Thursday at prices ranging from $168 to $171 each. This is the first stock sale he has made since 2021, and he still owns more than 9% of the company.

Despite selling some of his stake in Amazon, Bezos’ fortune remains estimated at a staggering 195.5 billion dollars, making him the third richest person in the world. Prior to this recent sale, Bezos had expressed his intention to sell up to 50 million shares of Amazon by January 31, 2025, with a market value of approximately 8.4 billion dollars. However, it is unclear what has changed since then or why he decided to sell now rather than at a later date.

Amazon’s financial results for the year ending December 31, 2020 were also released on February 1st and exceeded expectations. The group achieved a turnover of $386 billion and a net profit of $74 billion, which led to an over 30% increase in their stock price on the New York Stock Exchange. These impressive results have cemented Amazon’s position as one of the most successful companies in the world today.

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