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Jeff Bezos sells roughly $2 billion of Amazon shares

Published 02/10/2024, 10:47 AM
Updated 02/10/2024, 06:01 PM
© Reuters. FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo
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(Reuters) - Amazon.com (NASDAQ:AMZN) founder Jeff Bezos sold around 12 million shares of the online retail and cloud services firm for roughly $2 billion, according to a company filing on Friday, soon after laying out a plan to sell his shares over the next year.

The sale took place on Wednesday and Thursday, the filings showed.

Last week, Amazon said that Bezos would sell up to 50 million shares in the firm.

The sale plan, which is subject to certain conditions, was adopted on Nov. 8, 2023, and would be completed by Jan. 31, 2025, according to the company's latest annual report.

Bezos, who stepped down as the company's chief executive and took over as executive chairman in 2021, founded Amazon as a bookseller in 1994.

He is currently the world's second richest person with a net worth of $200 billion, according to Bloomberg Billionaires Index.

Latest comments

Bezo needs money losing BLUE ORIGIN to compete with Elon’s SpaceX
I wonder why he wants to sell? It will be a true test for Amazon share price that is for sure
He knows the markets are getting ready to take a nose dive.
Why is he doing it over an entire year then?
He doesn’t want to crash the stock by selling all at once.
That is some serious profit, while at the same time under-pricing the competition. I have saved over $150 on just three small parts for my van through this company.
Oh my God!!! My money. . .
This is amazing
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