On Friday, a company filing revealed that Jeff Bezos, the founder of Amazon, sold almost 12 million shares of the cloud-based online retail and services company for nearly $2 billion, shortly after revealing his intention to sell his stocks in the coming fiscal year.
>On Wednesday and Thursday, the sale was recorded according to records.
>Amazon’s sources disclosed that Bezos planned to sell as many as 50 million shares of the company last week.
>In its latest annual report, the company announced that this specific sales plan was adopted on November 8,2023,and in certain instances will be completed by January 31, 2025.
>Amazon’s CEO, Jeff Bezos, who started the company as a bookseller in1994, will be taking over as executive chairman,
With an estimated net worth of around $200 billion, Bezos is currently ranked as the second richest person globally after Elon Musk in the Bloomberg Billionaires Index.
Most of his stock donation went to nonprofits — about $230 million in shares were donated in November.