Jeff Bezos Sells Amazon Shares

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Jeff Bezos Sells Amazon Shares

Jeff Bezos Sells Billions Worth Of Amazon Shares

In the latest turn of events, Jeff Bezos reportedly sold around $2.4 billion of Amazon shares. This was revealed on Tuesday in a US SEC report detailing that millions of AMZN shares were sold.

Bezos rose to fame as the founder of Amazon and has found his way into the most wealthy individuals in the world. The report shows around 14 million shares of Amazon were sold by Jeff Bezos, which is equivalent to $2.4 billion based on the stock value.

$8.5 Billion Worth Of Shares Sold In Recent Past

Just a week ago, around 12 million Amazon shares were sold, equivalent to $2.03 billion. And if we look further into the past, he has sold 12 million shares on one occasion and a similar quantity earlier in the month.

Before the recent sale, Bezos was not involved in any selling for almost 2-3 years, as the last selling was done in 2021.

If we combine all the recent transactions by Bezos, he has sold roughly $8.5 billion from Amazon's sales. According to the company, the owner will offload around 50 million shares of Amazon by the end of January 31, 2025.

As for what Mr. Bezos plans to do with the money, according to third-party sources, Bezos is the 3rd richest person in the world, with most of his wealth coming from his possession of Amazon shares.

Mr Bezos has tapped into these Amazon shares several times in the past decade for liquidity. Another noteworthy fact is that Bezos is slowly selling part of his stake in Amazon through these selling operations. Despite the selling, he remains the CEO and one of the leading driving force behind the company.

Amazon Inc. (AMZN) is currently trading near 168.05, which makes it bullish over the short term. The stock is also very close to the recent high of 174.45 from February 9.

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