Jeff Bezos, the founder and Executive Chairman of Amazon.com Inc., has recently sold an additional $2 billion worth of Amazon shares, bringing his total stock sales this month to approximately $8 billion. Bezos sold about 14 million shares between Thursday and Tuesday, at prices ranging from $166.41 to $170.89 per share, resulting in a total of $2.2 billion.
This latest sale adds to the 36 million shares that Bezos had previously sold since February 7th, in tranches of around 12 million shares each. In total, Bezos has now sold about 50 million shares, which is the maximum amount allowed in a pre-arranged plan to sell some of his Amazon stock by January 2025.
Ben Silverman, the research vice president at VerityData, had predicted that Bezos would concentrate his sales over several days instead of spreading them out over weeks or months. This selling strategy aligns with Bezos’ past selling activity.
Despite these substantial sales, Bezos still retains around $164 billion worth of Amazon stock. As of Tuesday, his net worth is estimated to be about $191 billion, making him the third richest person in the world, behind Elon Musk and Bernard Arnault. Bezos’ fortune has been largely built on his success with Amazon, which has consistently performed well in the market.
In comparison to the broader market, Amazon shares have shown a 10% increase year-to-date, while the S&P 500 has gained 23%. This demonstrates the continued strength and growth potential of the company, even as its founder divests some of his holdings.
In conclusion, Jeff Bezos’ recent sale of 50 million Amazon shares totaling around $8 billion highlights his ongoing efforts to diversify his portfolio and capitalize on his success with the company. Despite these sales, Bezos still holds a significant amount of Amazon stock and remains one of the wealthiest individuals globally. The strong performance of Amazon shares further emphasizes the company’s position as a leading player in the market.
