Jeff Bezos has Divested $2 Billion Worth of Amazon Shares

Recent stock market filings reveal that Amazon founder Jeff Bezos has sold approximately $2 billion worth of shares of the online distribution giant. The sales occurred on Wednesday and Thursday, involving around 12 million Amazon shares sold at prices ranging between $168 and $171 per share, as indicated in documents submitted to stock market regulatory authorities on Friday.

A previous filing on Wednesday had announced Bezos’s intention to sell 50 million shares of Amazon in July. Bezos, who founded Amazon 30 years ago and currently serves as its executive chairman, has an estimated fortune of $195.5 billion, ranking him as the third richest person globally, behind Bernard Arnault, CEO of LVMH, and Elon Musk, who heads Tesla, Twitter, and SpaceX.

Amazon’s latest financial results, released on February 1, surpassed expectations significantly. The tech giant reported a sales turnover of $170 billion and a net profit of $10.6 billion, driven by enhanced delivery services and a highly successful holiday season. Following the release of these results, Amazon’s stock surged by over 13 percent on the New York Stock Exchange.

Business News: Jeff Bezos has Divested $2 Billion Worth of Amazon Shares