Jeff Bezos recently sold 12 million shares of Amazon.com Inc., marking his first sale of the company’s stock since 2021. The transactions took place on Wednesday and Thursday, resulting in over $2 billion in net earnings, according to a filing.
In February, Amazon announced that Bezos intends to sell up to 50 million shares of the company over the next 12 months. This potential sell-off comes at a time when Bezos’ fortune has increased by $22.6 billion this year, reaching $199.5 billion, making him a contender for the title of the world’s richest person.
Bezos has a history of selling Amazon shares, with records dating back to 2002. He has sold over $30 billion worth of shares, including approximately $20 billion combined in 2020 and 2021. In addition to selling shares, Bezos has also donated stock, with approximately $230 million worth of shares being given to nonprofit organizations in November.
Amazon declined to comment on Bezos’ recent sales through a spokesperson. To stay updated on how AI is shaping the future of business, readers can subscribe to the Eye on AI newsletter for free.