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Jeff Bezos offloads $2 billion worth of Amazon shares

Jeff Bezos has just sold 12 million shares of Amazon.com Inc., making it the first time he has done so since 2021. The transactions took place on Wednesday and Thursday, resulting in over $2 billion in net earnings, according to a filing.

Amazon announced earlier this week that Bezos plans to sell up to 50 million shares of the company over the next 12 months. This potential sell-off comes amidst a surge in Amazon’s stock price that has put Bezos in contention for the title of the world’s richest person. As of Friday, Bezos’ fortune has increased by $22.6 billion this year, reaching $199.5 billion, according to the Bloomberg Billionaires Index.

Bezos has a history of selling Amazon shares, dating back to 2002. He has sold over $30 billion worth of shares, including approximately $20 billion combined in 2020 and 2021. In addition to selling shares, Bezos has also donated stock, with approximately $230 million worth of shares being given to nonprofit organizations in November.

When asked about Bezos’ recent sales, Amazon declined to comment through a spokesperson. To stay updated on how AI is shaping the future of business, readers can subscribe to the Eye on AI newsletter for free.

By Editor

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