Amazon founder Jeff Bezos has disclosed his sale of nearly 12 million shares of the company's stock, amounting to a massive value of over $2 billion.
Jeff Bezos Sells Millions of Amazon Shares
Citing a statement he filed with the US Securities and Exchange Commission (SEC), CNBC reported that Jeff Bezos completed the sale of 11,997,698 shares of Amazon common stock over two consecutive days, or from February 7 to 8.
According to the listed price totals, the total worth of these shares was more than $2.04 billion. The transactions involved five blocks of stocks, ranging from 1 million to over 3.2 million.
CNBC reported that although Bezos has relocated to Miami, his address on the stock filings is listed as Seattle, where he founded Amazon in a garage some three decades ago.
50 Million Amazon Shares of Jeff Bezos
This move is part of Jeff Bezos' ongoing financial activities and portfolio management. In another filing with the SEC, Bezos disclosed his plan to sell up to 50 million Amazon shares over the next 12 months with an estimated market value of $8.4 billion.
Bezos will cash in on a stock surge that has placed him within reach of becoming the world's wealthiest person. The prearranged trading plan to sell as many as 50 million shares was adopted last November, and the sales will occur "over a period" that will end by January 31, 2025, "subject to certain conditions."
The Amazon founder has reportedly sold more than $30 billion in shares since records going back to 2002, which includes about $20 billion combined in 2020 and 2021.
CNBC reported that although Bezos has relocated to Miami, his address on the latest stock filings is listed as Seattle, where he founded Amazon in a garage some three decades ago.
Over the years, Bezos has played a pivotal role in shaping Amazon into the e-commerce behemoth it is today.
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