Jeff Bezos sells $2 billion worth of Amazon shares

For the first time since 2021, the Amazon founder sold the company's shares, totaling 12 million units.

According to a report filed by Amazon with the US Securities and Exchange Commission (SEC) a few days ago, founder Jeff Bezos sold 12 million shares of the technology company last week. The value of these shares is more than $ 2 billion. This is the first time since 2021 that Bezos has sold Amazon shares.

On February 2, Bezos said he planned to sell about 50 million shares over the next 12 months. The value of this amount is estimated at about $8.4 billion.

Amazon founder Jeff Bezos at an event in California in March 2023. Photo: AP

Amazon shares are up 16.3% since the start of the year, and up 75% year-over-year. Amazon shares rose as the company reported better-than-expected fourth-quarter 2023 earnings, thanks to a strong holiday shopping season. Revenue rose 14% to $170 billion, while profits soared to $10 billion.

The development has pushed Bezos' fortune up $22.6 billion this year to $199.5 billion, according to the Bloomberg Billionaires Index . He is now the second-richest person in the world, behind Tesla CEO Elon Musk. Bezos' fortune comes mainly from his nearly 10% stake in Amazon.

The Amazon founder has sold more than $30 billion worth of Amazon stock since 2002, including about $20 billion in 2020 and 2021 alone, for a variety of purposes, from funding his aerospace company Blue Origin to buying the $500 million Koru superyacht.

Bezos is also very active in donating shares to charities and non-profit organizations. He stepped down as CEO of Amazon in 2021, to focus more on other projects, such as Blue Origin and philanthropy.

Ha Thu (according to Reuters, Fortune)

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