Jeff Bezos, the founder of Amazon, recently sold about 12 million shares of the company for approximately $2 billion. This was announced by documents sent to the US Securities and Exchange Commission. This is the first time Bezos has sold Amazon shares since 2021. The exact reason for this sale is unknown, but it comes at an opportune moment as Amazon’s share price has risen to its highest point since November 2021.
Bezos recently announced a plan to sell a total of 50 million shares of his stock, with the sale set to take place in parts according to the sales plan and potentially closing in January 2025. This move comes as Amazon’s stock price has increased, pushing Bezos’ net worth up by more than $22 billion this year. The total value of these shares is estimated to be about $8.5 billion. With this sales plan, Bezos may be able to overtake Elon Musk as the world’s richest person according to Bloomberg’s billionaire index.
In addition to Bezos and Musk, Bernard Arnault, the managing director of LVMH, also has a net worth of $191 billion and ranks third on the list of the world’s richest people. The report on Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.