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Jeff Bezos sells further tranche of Amazon shares worth around $2.4 billion

AuthorScott Kanowsky
Published 02/21/2024, 04:39 AM
Updated 02/21/2024, 04:39 AM

Investing.com -- Jeff Bezos has sold a further chunk of shares in Amazon (NASDAQ:AMZN), a filing with the U.S. Securities and Exchange Commission showed on Tuesday, capping off in days a planned offload of up to 50 million shares in the e-commerce titan.

Bezos -- Amazon's founder and now its executive chairman -- sold 14 million in Amazon stock that was worth roughly $2.4 billion over three trading days ending on Tuesday, the filing showed. 

Last week, Bezos unloaded roughly 12 million Amazon shares valued at approximately $2.03 billion. Days before, he had also sold another 12 million share tranche, as well as a further 12 million shares earlier this month. Prior to these moves, Bezos had not sold stock in Amazon since 2021.

Following the latest transaction, Bezos has now netted $8.5 billion from the string of stake sales. Amazon had previously announced that the billionaire could unload up to 50 million shares in the firm by Jan. 31, 2025.

Bezos, the world's third-richest person according to Forbes, has yet to say what he will do with the proceeds from the sales.

Latest comments

Something might be cooking. If the price was to go much higher in the near term he would have waited before unloading. The poor guys who bought his share......Let's see who's gonna be right?
WTF! Post the comment. Site is a joke.
Most likely some philanthropic bender, although using philanthropy in same sentence with Bezos is antithetical. If @Frank Savarese is correct I would believe Bezos would be anticipating a far greater decline than 20%.
Most likely some philanthropic bender, although using philanthropy in same sentence with Bezos is antithetical. If @Frank Savarese is correct I would believe Bezos would be anticipating a far greater decline than 20%.
Rich dump shares and poor FOMO pick it listening to deceptive IBs bullish upgrades and manipulative analysts AI hype news
Agree on double top, if he is selling, he is expecting lower prices ahead. My opinion, the whole market may be due for 15 - 20 % drop. See Martin Armstrong
Gee, what does Bezos know that the rest of us don't?
We know but markets don't follow until it wants to
His Mrs needs more surgery i presume. 🤣
Playing the market, stock chart shows probable double top matching all time high in 2021, Macd and possible island reversal predicting  large drop. Time to cash out like many other high flying stocks that have double topped
One of the richest, yet pay zero tax!
And pay no income tax, smart idea
?how come? i think now that realizes profit with the sale, tax would be due? my be an acountant can weigh in on this?
That's not an income tax, that's how the rich getaway. He's paying capital gain tax. It's still far less than the income tax. But obviously, he is paying
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