Jeff Bezos, the founder of Amazon, has sold approximately 12 million Amazon shares for about $2 billion. This is the first time he has sold Amazon shares since 2021 and comes at a time when the price of Amazon’s stock has risen to its highest point since November 2021. The exact reason for Bezos selling his shares is unknown.
Recently, Amazon announced a plan to sell a total of 50 million Bezos shares, with the sale set to take place in parts according to the sales plan and potentially closing in January 2025. This plan comes at a time when the price of Amazon’s stock has increased, pushing Bezos’ net worth up by more than $22 billion this year. The shares would be worth about $8.5 billion in total.
Bezos, who was previously recognized as the world’s richest person, may be able to overtake Elon Musk with this sales plan according to Bloomberg’s billionaire index. Aside from Bezos and Musk, the French luxury goods manufacturer LVMH’s managing director Bernard Arnault has a net worth of $191 billion and ranks third.
The report on Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.