This week, Amazon founder Jeff Bezos sold part of the company's shares for the first time in the last three years. Bloomberg reports this.
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Details
Sales of 12 million shares took place on Wednesday and Thursday and amounted to more than $2 billion.
On February 2, 2024, Amazon announced that Bezos plans to sell up to 50 million shares of the company over the next 12 months, potentially cashing in on a sharp rise in shares that would make him the world's richest person.
According to the Bloomberg Billionaires Index, Bezos's fortune grew by $22.6 billion over the year to $200 billion as of Sunday, February 11. He is in second place after Elon Musk, whose fortune reaches $209 billion (-$20.2 billion per year).
Since 2002, the Amazon founder has sold more than $30 billion worth of company stock, including about $20 billion in 2020 and 2021.
He has mostly given away shares, including about $230 million worth of shares that were donated to nonprofits in November 2023.
Recap
Amazon shares rose nearly 8% last week after the company reported better-than-expected holiday sales quarter, and its profitable cloud business posted early gains thanks to AI-powered features.
Amazon shares rose more than 80% last year amid broader gains in technology stocks and outperformed the benchmark S&P 500 index.
Bezos founded Amazon in 1994. The company initially operated as an online marketplace for books, but later expanded into selling electronics, video games, clothing, furniture, and toys. It is now one of the world's largest companies by turnover, selling goods and services via the Internet.
In 2021, he stepped down as chief executive and took the position of executive chairman.
