In just two weeks, the Amazon founder sold tens of millions of company shares, earning more than $6 billion.
According to a report filed by Amazon with the US Securities and Exchange Commission (SEC), founder Jeff Bezos has just sold an additional $2.03 billion worth of the technology company's shares. The sales took place on February 13 and 14, with a total of 12 million shares.
Last weekend, Bezos sold 12 million Amazon shares worth $2 billion. He made a similar move a few days earlier. So this month alone, the billionaire has sold Amazon shares three times, earning more than $6 billion.
On February 2, Bezos said he had been planning since late last year to sell about 50 million shares over the next 12 months. The value of that amount is estimated at about $8.4 billion. This month is also the first time since 2021 that Bezos has sold Amazon shares.
Jeff Bezos at an event in the UK in 2021. Photo: Reuters
Amazon shares are up 13% since the start of the year, and 73% over the year. Amazon shares rose after 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 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 now the third richest person in the world, with a fortune of $191.4 billion, according to Forbes . After three sales, the number of Amazon shares held by this billionaire is only 952 million units.
In November 2023, Bezos announced that he would be leaving Seattle for Miami, which would put him closer to the headquarters of his aerospace company Blue Origin and his girlfriend Lauren Sanchez’s family. Observers say the move could also save him hundreds of millions of dollars in taxes on stock sales.
Ha Thu (according to Reuters, CNBC)
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