Jeff Bezos unloads $2 billion worth of Amazon shares

WEB DESK: Amazon founder Jeff Bezos has successfully divested approximately 12 million shares of the online retail and cloud services giant, securing approximately $2 billion in the process.

This information was disclosed in a company filing on Friday, closely following Bezos’ strategic outline to progressively sell his shares within the coming year.

The transaction occurred on both Wednesday and Thursday, as indicated by the official filings. In a noteworthy development from last week, Amazon announced Bezos’ intention to offload up to 50 million shares in the company.

It is important to note that the sales plan, subject to specific conditions, was formally adopted on November 8, 2023. The execution of this plan is scheduled to conclude by January 31, 2025, as outlined in the company’s latest annual report.

Jeff Bezos, who assumed the role of executive chairman in 2021 after stepping down as the company’s chief executive, initially founded Amazon in 1994 as a humble bookseller.

As of now, Bezos holds the title of the world’s second-richest individual, boasting a staggering net worth of $200 billion, according to the Bloomberg Billionaires Index.