Jeff Bezos, the founder of Amazon, recently sold about 12 million Amazon shares worth approximately $2 billion. This is the first time he has sold his shares since 2021 and comes at a time when Amazon’s share price has risen to its highest point since November 2021. The exact reason for Bezos selling his shares is unknown, but it is seen as an opportune moment as Amazon’s stock value continues to increase.
In addition to Bezos, Elon Musk and Bernard Arnault of LVMH are also among the world’s wealthiest people with net worths of $254 billion and $191 billion respectively. The news of Bezos’ stock dealings was initially reported by STT in Finland and covered by Yle.
Amazon has recently announced a plan to sell a total of 50 million Bezos shares over time, potentially closing in January 2025. This sale could generate up to $8.5 billion in revenue for the company and push Bezos’ net worth up even further. However, this sales plan could also make him vulnerable to overtaking Elon Musk as the world’s richest person according to Bloomberg’s billionaire index.