In a notable move within the tech industry, Jeff Bezos, the founder of Amazon.com Inc., has embarked on a significant sale of his shares in the e-commerce giant. This transaction marks Bezos’s first major divestment of Amazon stock since 2021, with the sale of 12 million shares amounting to a value of just over $2 billion.
The share disposal occurred over two consecutive days, Wednesday and Thursday, as per regulatory filings. This comes after an announcement on February 2 that Bezos intends to sell up to 50 million Amazon shares within a year, a decision that could be influenced by the recent surge in Amazon’s stock value. This surge has contributed to a substantial increase in Bezos’s net worth, which has risen by $22.6 billion this year, positioning him close to reclaiming the title of the world’s richest person.
Historically, Bezos has liquidated more than $30 billion of his Amazon holdings since 2002, with a significant portion, approximately $20 billion, sold in 2020 and 2021. Beyond selling, Bezos has also been known for his philanthropy, having donated Amazon shares worth around $230 million to various nonprofit organizations in November.
Amazon has refrained from commenting on Bezos’s recent stock sales. The company’s spokesperson declined to provide a statement when approached.
Q: Why did Jeff Bezos sell his Amazon shares?
A: The specific reasons for Jeff Bezos’s sale of Amazon shares have not been publicly disclosed. However, it is part of a pre-announced plan to sell up to 50 million shares.
Q: How much are Jeff Bezos’s Amazon shares worth?
A: As of the latest sale, Jeff Bezos sold approximately $2 billion worth of Amazon shares. His overall net worth has increased significantly due to the rise in Amazon’s stock price.
Q: What does Jeff Bezos do with the proceeds from his stock sales?
A: While it is not entirely clear what Bezos does with all the proceeds, he has a history of philanthropy, including donating Amazon shares to nonprofit organizations.
Glossary of Terms
– Divestment: The action or process of selling off subsidiary business interests or investments.
– Regulatory Filings: Official documents submitted to a government agency that contain required or useful information about a company’s operations and financial condition.
– Philanthropy: The desire to promote the welfare of others, expressed especially by the generous donation of money to good causes.