Amazon founder Jeff Bezos has recently divested approximately $2.03 billion worth of shares in his company, as disclosed in a regulatory filing, bringing his total sales for the month to surpass $6 billion.
Between Tuesday and Wednesday, Bezos offloaded around 12 million Amazon shares at an average price of $169.50 per share. These transactions were conducted under a trading plan initiated in November, with the potential for Bezos to sell up to 50 million shares, as outlined in the company’s annual filing.
This month’s sales mark Bezos’ first divestment of Amazon stock since May 2021, the year he relinquished his role as Amazon CEO, although he did gift approximately $240 million in Amazon shares last year.
In a significant move announced in November, Bezos disclosed his intention to relocate from Seattle to Miami, a decision aimed at closer proximity to his space exploration company, Blue Origin, and his fiancée Lauren Sanchez’s family. The relocation also carries potential tax benefits for Bezos on the proceeds from the share sales, potentially saving him hundreds of millions of dollars.
Currently ranked as the world’s third-wealthiest individual by Forbes, Bezos holds a net worth of $191.4 billion. Following the recent sales in February, his Amazon holdings have decreased from 976.25 million shares to 952.26 million shares.
Key Takes of this News
- Jeff Bezos sold approximately $2.03 billion worth of Amazon shares in recent days, bringing his total sales for the month to over $6 billion.
- The sales occurred on Tuesday and Wednesday, with Bezos offloading about 12 million shares at an average price of $169.50 per share.
- These transactions were executed under a trading plan that commenced in November, allowing Bezos to potentially sell up to 50 million shares.
- Bezos’ decision to sell shares comes amidst his move from Seattle to Miami, aiming for closer proximity to Blue Origin and his fiancée’s family, which could offer tax benefits.
- This marks Bezos’ first divestment of Amazon stock since May 2021, when he stepped down as CEO, although he gifted shares worth $240 million last year.
- Despite the sales, Bezos remains the world’s third-wealthiest individual, with a net worth of $191.4 billion according to Forbes.
- Following the recent sales, Bezos’ Amazon holdings have decreased from 976.25 million shares to 952.26 million shares.
