Jeff Bezos, founder of the online shopping company Amazon, recently sold 12 million shares in a deal worth approximately $2 billion. This was the first time Bezos had 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.
Bezos recently announced a plan to sell a total of 50 million shares in parts, with the sale set to take place over several years and potentially closing in January 2025. This decision to sell his shares 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, making it an opportune moment for Bezos to sell them.
This sales plan could see Bezos surpass Elon Musk as the world’s richest person according to Bloomberg’s billionaire index if successful. Aside from Bezos and Musk, Bernard Arnault, managing director of French luxury goods manufacturer LVMH, has a net worth of $191 billion and ranks third on the list. The report on Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.