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Jeff Bezos Sells $2 Billion Worth of Amazon Shares Following Announced Plan

New York, February 10, 2024, The Europe Today: founder Jeff Bezos has reportedly sold approximately 12 million shares of the renowned online retail and cloud services company for an estimated $2 billion. The transaction occurred on Wednesday and Thursday, as indicated by a company filing on Friday. This move follows Bezos’ recent announcement of a plan to sell up to 50 million Amazon shares over the next year.

The sale plan, subject to specific conditions, was formally adopted on November 8, 2023, and is set to conclude by January 31, 2025, according to information disclosed in Amazon’s latest annual report.

Jeff Bezos, who founded Amazon as a bookseller in 1994, stepped down as the company’s chief executive in 2021 but assumed the role of executive chairman. Last week, Amazon revealed Bezos’ intention to divest up to 50 million shares in the company as part of the outlined plan.

As of now, Jeff Bezos holds the title of the world’s second-richest person with a net worth estimated at $200 billion, according to the Bloomberg Billionaires Index.

The recent sale of shares is in line with Bezos’ strategic financial decisions and the company’s commitment to transparency in communicating major financial transactions to its stakeholders.