• Sat. Mar 2nd, 2024

Bezos Sells $2 Billion in Amazon Shares, Still Owns Over 9% of Company; Amazon Exceeds Financial Expectations with Record Turnover and Growth

ByEditor

Feb 11, 2024
Jeff Bezos offloads two billion dollars of Amazon shares

Jeff Bezos, the founder of Amazon, recently sold approximately $2 billion worth of shares in the online retail giant, equivalent to around 1.8 billion euros. The stock exchange document released on Friday states that Bezos sold 12 million Amazon shares on Wednesday and Thursday at prices ranging from $168 to $171 each. This is his first stock sale since 2021 and he still owns over 9% of the company.

In other news, Bezos’ fortune was estimated at 195.5 billion dollars earlier this month, making him the third richest person in the world. However, a previous stock market document reported that he had planned to sell 50 million shares of Amazon with a market value of 8.4 billion dollars before January 31, 2025. Despite the recent stock sale, Bezos still retains a significant ownership stake in the company.

Amazon’s financial results for February were also released and they exceeded expectations. The group achieved a turnover of 170 billion dollars and experienced growth of 14% over one year with a net profit of 10.6 billion dollars. These impressive results led to an increase in the company’s stock on the New York Stock Exchange by over 13%.

Leave a Reply