Amazon’s founder, Jeff Bezos, is known for taking advantage of high stock prices to sell shares of the company. In a recent filing with the SEC, Bezos announced plans to sell 25 million shares, worth about $5 billion at current prices. Despite this, he still retains ownership of 8.8% of outstanding shares.
Bezos has been actively selling Amazon stock this year, earning billions in the process. Since 2002, he has sold over $30 billion worth of shares, with significant sales in 2020 and 2021 alone. The proceeds from these sales have funded ventures like Blue Origin and personal purchases like the Koru superyacht.
Amazon’s stock has been performing exceptionally well this year, hitting a record high of $200.40 in July. The company’s shares have risen over 30% since the beginning of the year, outperforming the DJIA. Strong earnings, particularly in the first quarter, have propelled Amazon’s stock price, with operating profit increasing over 200% year-over-year.
Despite his significant sales of Amazon shares, Bezos continues to hold a substantial stake in the company and remains the second richest person in the world according to Forbes with a fortune of $214.4 billion dollars.