In a recent move, Amazon founder and executive chairman Jeff Bezos has divested more than 14 million shares of his company, totaling approximately $2.4 billion. This latest sale adds to a series of divestments, bringing the total sold since the beginning of the month to a staggering 50 million shares.
According to a securities filing, the sales commenced late last week and continued through Tuesday. Bezos executed the sales under a prearranged trading plan adopted in November and disclosed earlier this month. This plan allowed him to sell up to 50 million Amazon shares before January 31, 2025.
Last week alone, Bezos sold about 12 million Amazon shares valued at approximately $2.03 billion, in addition to another tranche of 12 million shares just days prior. The week before saw another divestment of 12 million shares.
Notably, Bezos had refrained from selling Amazon stock since May 2021, the year he stepped down as CEO of the company. However, his recent flurry of sales indicates a significant shift in strategy. Last year, he gifted around $240 million worth of Amazon shares.
The acceleration in Bezos’ stock sales coincides with his announcement last November that he would relocate from Seattle to Miami. This move allows him to be closer to his fiancée Lauren Sanchez, his parents, and the operations of Blue Origin, his aerospace company.
According to a securities filing, the sales commenced late last week and continued through Tuesday. Bezos executed the sales under a prearranged trading plan adopted in November and disclosed earlier this month. This plan allowed him to sell up to 50 million Amazon shares before January 31, 2025.
Last week alone, Bezos sold about 12 million Amazon shares valued at approximately $2.03 billion, in addition to another tranche of 12 million shares just days prior. The week before saw another divestment of 12 million shares.
Notably, Bezos had refrained from selling Amazon stock since May 2021, the year he stepped down as CEO of the company. However, his recent flurry of sales indicates a significant shift in strategy. Last year, he gifted around $240 million worth of Amazon shares.
The acceleration in Bezos’ stock sales coincides with his announcement last November that he would relocate from Seattle to Miami. This move allows him to be closer to his fiancée Lauren Sanchez, his parents, and the operations of Blue Origin, his aerospace company.
