Bezos to Sell $5 Billion of Amazon as Shares Hit Record High

[mahatmakanejeeves]

Bezos to Sell $5 Billion of Amazon as Shares Hit Record High

July 3, 2024 at 7:15 am Updated July 3, 2024 at 10:14 am
By Tom Maloney
Bloomberg

Jeff Bezos disclosed a plan to unload 25 million additional shares of Amazon.com worth $5 billion on the day the stock hit a fresh record. … The notice was filed after the market closed Tuesday, though sales could also take place as early as that day, according to the filing.

Bezos sold shares worth about $8.5 billion over nine trading days in February — the first time he disposed of company stock since 2021. The additional sales would bring his total this year to roughly $13.5 billion, according to calculations by the Bloomberg Billionaires Index.

Bezos would still hold nearly 912 million shares, or about 8.8% of Amazon, following the latest sale. He’s the world’s second-richest person with a net worth of $221.6 billion, according to Bloomberg’s wealth index, and also owns space-exploration company Blue Origin and the Washington Post.

A spokesperson for Amazon declined to comment on the most recent sales.

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