Amazon founder and executive chairman Jeff Bezos divested more than 14 million shares of his company, totaling approximately $2.4 billion, adding to the 50 million shares he has sold since the beginning of the month.
The sales commenced late last week and persisted until Tuesday, as per a securities filing. In aggregate, Bezos offloaded 14,006,906 shares in the company, fetching about $2.37 billion, according to the filing.
These transactions were executed under a prearranged trading plan established by Bezos in November and disclosed earlier this month, enabling him to sell up to 50 million Amazon shares by January 31, 2025.
Last week alone, Bezos sold roughly 12 million Amazon shares valued at approximately $2.03 billion, alongside another tranche of 12 million shares just days earlier. He also divested an additional 12 million shares the preceding week.
Before this recent flurry of sales, Bezos had refrained from selling Amazon stock since May 2021, coinciding with his transition from Amazon’s CEO. Last year, he gifted about $240 million worth of Amazon shares.
The pace of Bezos’ stock sales has quickened since his announcement in November that he would relocate from Seattle to Miami, aiming to be closer to his fiancée Lauren Sanchez, his parents, and Blue Origin’s operations.
