Jeff Bezos Offloads Over $2B Amazon Shares Thrice Monthly

According to a regulatory filing, Amazon founder Jeff Bezos has sold approximately $2.03 billion worth of shares in his company over the past few days.

This brings his total sales for this month to over $6 billion. On Tuesday and Wednesday, Bezos sold about 12 million Amazon shares at an average price of $169.50 per share.

These sales were conducted under a trading plan initiated in November, which allows Bezos to sell up to 50 million Amazon shares, as stated in the company’s annual filing.

Bezos sells $2.03B Amazon shares
Bezos sells $2.03B Amazon shares, totaling $6B this month.

Between Friday and Monday, Bezos sold around 12 million shares valued at $2 billion, and he had sold another 12 million shares the previous week.

These sales represent Bezos’s first disposal of Amazon stock since May 2021, when he stepped down as CEO, although he did gift approximately $240 million worth of Amazon shares last year.

Bezos announced in November his decision to relocate from Seattle to Miami, citing proximity to Blue Origin and fiancée Lauren Sanchez’s family.

Jeff Bezos
Jeff Bezos would move to Miami for proximity to Blue Origin and his family.

This move also presents potential tax savings amounting to hundreds of millions of dollars on his share sales. According to Forbes, Bezos holds the title of the world’s third-wealthiest individual, boasting a net worth of $191.4 billion.

Following his February sales, his Amazon holdings have decreased from 976.25 million shares to 952.26 million shares.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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