• Tue. Mar 5th, 2024

Bezos’ $2 Billion Stock Sale: What It Means for Amazon and His Fortune

ByEditor

Feb 11, 2024
Jeff Bezos offloads two billion dollars of Amazon shares

Jeff Bezos recently sold $2 billion worth of shares in Amazon, equivalent to around 1.8 billion euros. This is the first stock sale he has made since 2021, and he still owns more than 9% of the company. Despite this recent sale, Bezos’ fortune remains estimated at 195.5 billion dollars, making him the third richest person in the world.

Amazon’s financial results, released on February 1, far exceeded expectations. The group achieved a turnover of 170 billion dollars, representing growth of 14% over one year, and a net profit of 10.6 billion. These results led to a more than 13% increase in the company’s stock on the New York Stock Exchange.

A previous stock market document reported Bezos’ intention to sell 50 million shares of Amazon, with a market value of 8.4 billion dollars, before January 31, 2025. While it is not clear what prompted Bezos to sell these shares now instead of waiting until January as originally planned, it is likely that he saw an opportunity to cash out some of his holdings while the stock was trading at such high prices.

Despite this recent stock sale, Bezos’ fortune remains estimated at an impressive amount due to his ownership stake in Amazon and other companies such as Blue Origin and Twitch. As one of the most successful entrepreneurs in history, Bezos continues to inspire innovation and growth across multiple industries.

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