Jeff Bezos sells $2.7 billion of Amazon shares in first major stock sale since 2021
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Mr Jeff Bezos is potentially cashing in on a stock surge that has put him within reach of becoming the world’s richest person.
PHOTO: REUTERS
San Francisco - Mr Jeff Bezos unloaded 12 million shares of Amazon.com this week, the first time the billionaire has sold the company’s stock since 2021.
The sales took place on Feb 7 and 8 and netted just over US$2 billion (S$2.7 billion), according to a filing.
Amazon disclosed on Feb 2 that Mr Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that has put him within reach of becoming the world’s richest person.
His fortune has climbed US$22.6 billion in 2024 to US$199.5 billion as at Feb 9, according to the Bloomberg Billionaires Index.
The Amazon founder has sold over US$30 billion in shares since records going back to 2002, including about US$20 billion combined in 2020 and 2021.
He has primarily been gifting stock, including shares worth roughly US$230 million that were given to non-profit organisations in November.
Amazon, through a spokesperson, declined to comment. BLOOMBERG
