In his latest move, Amazon.com Inc. founder and Executive Chairman Jeff Bezos has sold another $2 billion worth of stock, adding to his total sales this month of about $8 billion.
Recent Transactions
According to a filing with the Securities and Exchange Commission, Bezos sold approximately 14 million shares between Thursday and Tuesday, at prices ranging from $166.41 to $170.89 per share, totaling around $2.2 billion. This follows his previous offloading of about 36 million shares since Feb. 7 in tranches of approximately 12 million shares each.
Sales Plan
The recent sales bring the total number of shares sold to approximately 50 million under a pre-arranged plan to sell some of his Amazon stock by January 2025.
Market Insights
VerityData research vice president Ben Silverman has observed that Bezos tends to concentrate sales over several days rather than spreading them out over weeks or months, based on a review of his past selling activity.
Current Holdings
Despite the sales, Bezos still retains about $164 billion worth of Amazon stock. As of Tuesday, Bezos holds a fortune valued at roughly $191 billion, positioning him third on the Bloomberg Billionaire’s Index, behind Elon Musk ($209 billion) and Bernard Arnault ($193 billion).
Market Performance
Amazon shares (AMZN) have risen by 10% year to date, in comparison to the S&P 500’s gain of 23%.
