Jeff Bezos, the founder of Amazon, has sold approximately 12 million Amazon shares for about $2 billion. This is the first time he has sold Amazon 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. The exact reason for Bezos selling his shares is unknown, but it may be due to a desire to diversify his investment portfolio or simply because he no longer needs the funds.
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. 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 the world’s richest people. The report of Jeff Bezos’ stock dealings was initially from Finland by STT and covered in Yle.