Jeff Bezos, founder of Amazon.com, has completed the sale of approximately 12 million shares of the popular online retail and cloud services company. This transaction earned Bezos approximately $2 billion. The decision to sell came shortly after Bezos revealed his plan to gradually sell his shares over the next year.
The sale took place over two days, Wednesday and Thursday, as detailed in official company documents.
Last week, Amazon announced Bezos’ intention to sell up to 50 million shares of the company.
The sales plan was launched on November 8, 2023 and is expected to conclude on January 31, 2025, as described in Amazon’s latest annual report. Bezos, who founded Amazon as an online bookstore in 1994, stepped down as CEO in 2021 and took on the role of executive chairman.
According to the Bloomberg Billionaires Index, Bezos is currently ranked as the second richest individual in the world, with a considerable net worth of $200 billion.
Also read: Alibaba Announces $25 Billion Share Buyback to Address Growth Concerns Amid Competition