Jeff Bezos’ $2 Billion Amazon Shares Sell-Off Sparks Investor Speculation – (NASDAQ:AMZN) Jeff Bezos’ $2 Billion Amazon Shares Sell-Off Sparks Investor Speculation

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By Ronald Tech

The Big Sale Inc.’s AMZN founder, Jeff Bezos, has made a significant move by selling $2 billion worth of company shares. This is Bezos’ first major stock sale since 2021.

What’s Happening

Bezos sold 12 million Amazon shares in multiple transactions on Wednesday and Thursday, netting him a little over $2 billion, according to a filing with the U.S. Securities and Exchange Commission (SEC).

In February, Amazon disclosed Bezos’ plans to sell up to 50 million shares over the next year.

Bezos still has 38 million shares he intends to offload over the course of the next 12 months. This could potentially net him $6 billion to $6.5 billion, based on current prices.

Market Impact

This move could capitalize on a stock surge that has brought Bezos close to becoming the world’s wealthiest individual. His fortune has increased by $22.6 billion this year, reaching $200 billion, as per the Bloomberg Billionaires Index. This brings Bezos within striking distance of Tesla Inc. CEO Elon Musk, who currently stands at $209 billion, after a decline of $20.2 billion this year.

Since 2002, Bezos has sold over $30 billion in Amazon shares, including approximately $20 billion in 2020 and 2021. He has also gifted $230 million in Amazon shares to non-profit organizations.

Amazon declined to comment on Bezos’ recent stock sale.

Significance of the Sell-Off

Bezos’ decision to sell his shares comes as Amazon’s stock continues to soar. Bezos’ wealth was just under $178 billion at the end of 2023, but a 16.35% surge in Amazon stock in 2024 has also lifted its founder’s net worth, which touched $200 billion on Friday.

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Amazon shares closed at $174.55, up by 2.77% in the last 24 hours, versus a 52-week range of $88.12 to $172.5, according to data from Benzinga Pro.

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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