Jeff Bezos, the founder of Amazon, recently sold 24 million shares of the company. This is notable, as he had not sold any shares since 2021. In a regulatory filing, Amazon disclosed Mr. Bezos’ intention to sell 50 million shares over the next year, worth around $8.4 billion at current market rates.
The first tranche of 12 million shares was revealed in a regulatory filing on Friday, followed by another announcement on Tuesday regarding the sale of an additional 12 million shares.
Mr. Bezos has been known for his philanthropic endeavors and has donated Amazon shares in the past. He also relocated from Seattle to Miami last year, which may result in tax savings of approximately $280 million on the $4 billion worth of stock he has divested.
This has sparked speculation about the future of Amazon and Mr. Bezos’ personal finances and it is likely to have an impact on Amazon’s stock price and overall market value.
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