Jeff Bezos, the founder of Amazon, has sold about 12 million Amazon shares for approximately $2 billion. This is the first time he has sold his shares since 2021 and it comes at an opportune moment as Amazon’s share price has recently risen to its highest point since November 2021.
Recently, Amazon announced a plan to sell a total of 50 million Bezos shares, with the sale set to take place in parts according to the sales plan and potentially closing in January 2025. The shares would be worth about $8.5 billion in total. This move by Bezos comes at a time when the price of Amazon’s stock has increased, pushing his net worth up by more than $22 billion this year.
With this sales plan, Bezos may be able to overtake Elon Musk as the world’s richest person according to Bloomberg’s billionaire index. Aside from Bezos and Musk, Bernard Arnault, the managing director of French luxury goods manufacturer LVMH, has a net worth of $191 billion and ranks third on the list of richest people. The report on Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.