Jeff Bezos sells 24 million Amazon shares for $4bn
Business
In February, the company announced its founder's intention to sell up to 50 million shares by the end of January 2025.
According to documents filed with the U.S. Securities and Exchange Commission (SEC), Amazon founder Jeff Bezos sold another $2 billion worth of Amazon shares. From 9 to 12 February, he sold almost 12 million Amazon shares at prices ranging from $171 to almost $174.8. Thus, over the past week, the total sales amounted to $4.12bn. Amazon declined to comment.
Bezos stepped down as head of Amazon in 2021, but remained chairman and the company's largest shareholder. He still has about 9 per cent of the company's shares after the latest sales. In February, Amazon announced the billionaire's plans to sell up to 50 million shares by the end of January 2025.
These sales were the first in more than two years. Since Amazon went public in 1997, Bezos has sold $32bn worth of shares and donated another $4.7bn. In May 2023, he bought one Amazon share for $114.77 - the first increase in his stake in the company in 20 years.
Bezos stepped down as head of Amazon in 2021, but remained chairman and the company's largest shareholder. He still has about 9 per cent of the company's shares after the latest sales. In February, Amazon announced the billionaire's plans to sell up to 50 million shares by the end of January 2025.
These sales were the first in more than two years. Since Amazon went public in 1997, Bezos has sold $32bn worth of shares and donated another $4.7bn. In May 2023, he bought one Amazon share for $114.77 - the first increase in his stake in the company in 20 years.
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