- Jeff Bezos, Amazon’s founder, sold over 14 million shares valued at $2.4 billion this month, totalling 50 million shares worth $8.5 billion.
- These sales, conducted under a prearranged trading plan, mark a significant increase in Bezos’ stock divestment since stepping down as CEO.
- Bezos’ relocation to Miami and plans for the proceeds remain undisclosed amidst his accelerated stock sales.
Amazon founder and executive chairman Jeff Bezos once again sold over 14 million shares of company stock this month, valued at about $2.4 billion. With this, his total Amazon stock sales for the month reached 50 million shares, totalling $8.5 billion. According to filings with the U.S. Securities and Exchange Commission (SEC), the stock sales began last weekend and continued until Tuesday. The filings show that Bezos sold a total of 14,006,906 Amazon shares, worth approximately $2.37 billion.
Also read: Jeff Bezos to sell 50 million Amazon shares next year
The trading plan was established in November
This sale was made under a prearranged trading plan established by Bezos in November and disclosed earlier this month, allowing him to sell up to 50 million shares of Amazon stock by January 31, 2025. In addition to the 14 million shares sold this week, Bezos also sold about 12 million Amazon shares last week, worth about $2.03 billion, and has conducted similar sales in previous weeks. It’s worth noting that Bezos had not sold any company stock since stepping down as Amazon CEO in 2021.
Bezos has accelerated his stock sales pace since announcing in November last year that he would move from Seattle to Miami, one reason being to be closer to his fiancée, Lauren Sanchez, his parents, and the operational base of Blue Origin, his aerospace company. Bezos has not disclosed plans for the use of the funds.
