Jeff Bezos, the founder of Amazon, recently sold about 12 million shares of the company for approximately $2 billion. This is the first time he has sold Amazon shares since 2021. The sale price was an opportune moment as Amazon’s share price has recently risen to its highest point since November 2021.
Recently, Amazon announced a plan to sell a total of 50 million Bezos shares, with the sale set to take place in parts according to the sales plan and potentially closing in January 2025. This plan comes at a time when the price of Amazon’s stock has increased, pushing Bezos’ net worth up by more than $22 billion this year. The shares would be worth about $8.5 billion in total.
Bezos has previously been recognized as the world’s richest person and may be able to overtake Elon Musk with this sales plan according to Bloomberg’s billionaire index. Aside from Bezos and Musk, the French luxury goods manufacturer LVMH’s managing director Bernard Arnault has a net worth of $191 billion and ranks third. The report of Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.