Jeff Bezos, the founder of Amazon, recently sold about 12 million Amazon shares for approximately $2 billion. This is the first time he has sold Amazon shares since 2021. The exact reason for this sale is unknown, but it comes at an opportune moment as Amazon’s share price has recently risen to its highest point since November 2021.
Bezos also recently announced a plan to sell a total of 50 million shares of his company, 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.
This move by Bezos could have significant implications for the world’s richest people. Aside from Bezos and Elon Musk, Bernard Arnault, the managing director of French luxury goods manufacturer LVMH, has a net worth of $191 billion and ranks third on Bloomberg’s billionaire index.
The report of Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.