Jeff Bezos, the founder of the online shopping company Amazon, recently sold about 12 million Amazon shares for approximately $2 billion. This is the first time that Bezos has sold Amazon shares since 2021 and an opportune moment as Amazon’s share price has recently risen to its highest point since November 2021. The exact reason for Bezos selling his shares is unknown, but it is likely that he is looking to diversify his investment portfolio or reduce his holdings in the company.
Amazon recently 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. This plan comes at a time when the price of Amazon’s stock has increased, pushing Bezos’ net worth up by more than $22 billion this year. The shares would be worth about $8.5 billion in total. If successful, this sales plan could make Bezos even wealthier and potentially push him past 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 Bloomberg’s billionaire index. The report of Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.