• Wed. Feb 21st, 2024

Billionaire Jeff Bezos Sells 12 Million Shares of Amazon.com Inc., Boosting His Fortune to $199.5 Billion


Feb 11, 2024
Jeff Bezos offloads $2 billion worth of Amazon shares

The billionaire Jeff Bezos recently sold 12 million shares of Amazon.com Inc., marking his first stock sale since 2021. The transactions took place on Wednesday and Thursday, resulting in over $2 billion in net earnings, according to a filing.

This potential sell-off comes amid a surge in Amazon’s stock price that has positioned Bezos as a contender for the title of the world’s richest person. In February, Amazon revealed that Bezos intends to sell up to 50 million shares of the company over the next 12 months. As of Friday, Bezos’ fortune has increased by $22.6 billion this year, reaching $199.5 billion, according to the Bloomberg Billionaires Index.

Bezos has a history of selling Amazon shares, with records going back to 2002. He has sold over $30 billion worth of shares, including approximately $20 billion combined in 2020 and 2021. Along with selling shares, Bezos has also donated stock, with approximately $230 million worth of shares being given to nonprofit organizations in November.

It is important to note that Amazon declined to comment on Bezos’ recent sales through a spokesperson. To stay updated on how AI is shaping the future of business, readers can subscribe to the Eye on AI newsletter for free.

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