Jeff Bezos offloads two billion dollars of Amazon shares

Jeff Bezos sells $2 billion worth of Amazon shares, retains over 9% ownership

Amazon founder Jeff Bezos sold around $2 billion worth of shares in the company, equivalent to around 1.8 billion euros, on Wednesday and Thursday. This is his first stock sale since 2021, but he still owns more than 9% of the company. The stock exchange document sent on Friday states that he sold 12 million Amazon shares at prices ranging from $168 to $171 each.

Despite the recent stock sale, Bezos’ fortune remains estimated at 195.5 billion dollars, making him the third richest person in the world. Prior to this sale, Bezos had stated his intention to sell 50 million shares of Amazon with a market value of 8.4 billion dollars before January 31, 2025. However, it is not clear whether this plan has changed or if it is still in effect.

Amazon’s financial results for the quarter ending December 31, 2020 were released on February 1 and exceeded expectations. The group achieved a turnover of $93.4 billion and a net profit of $386 million, representing growth of just over 7% over one year and a significant improvement from the previous quarter when Amazon faced intense competition from other e-commerce platforms due to the COVID-19 pandemic. These results led to an over 6% increase in the company’s stock price on the New York Stock Exchange.

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