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Jeff Bezos unloads around $2.4 billion in Amazon stock, bringing recent sales to 50 million shares

Jeff Bezos attends at “The Lord Of The Rings: The Rings Of Power” World Premiere in August, 2022.
Dave J Hogan | Getty Images Entertainment | Getty Images

Amazon founder and executive chairman Jeff Bezos unloaded more than 14 million shares of his company valued at roughly $2.4 billion, bringing the total sold since the start of the month to 50 million.

The sales began late last week and continued through Tuesday, according to a securities filing. In total, Bezos sold 14,006,906 shares in the company for about $2.37 billion, the filing states.

The sales were executed under a prearranged trading plan that Bezos adopted in November and disclosed earlier this month, which said he could sell up to 50 million Amazon shares before Jan. 31, 2025.

Bezos sold about 12 million Amazon shares, worth approximately $2.03 billion, last week, in addition to another tranche of 12 million shares just days before. He unloaded another 12 million shares the week before that.

Bezos hadn’t sold Amazon’s stock since May 2021, the year he stepped down as Amazon’s CEO, prior to the latest flurry of sales. He gifted about $240 million worth of Amazon shares last year.

Bezos’ stock sales have accelerated since he announced last November he would leave Seattle and move to Miami, allowing him to be closer to fiancée Lauren Sanchez and his parents, as well as Blue Origin’s operations.

Clarification: This story has been updated to reflect that Bezos unloaded around $2.4 billion in stock

This post has been syndicated from a third-party source. View the original article here.

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