Jeff Bezos sells over $2 billion in Amazon stock third time this month



Jeff Bezos looks on from the sidlines before kickoff between the Kansas City Chiefs and Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022 in Kansas City, Missouri. The Amazon founder and chairman is one of the world’s richest men.

Cooper Neill | Getty Images Sport | Getty Images

Amazon founder Jeff Bezos sold roughly $2.03 billion of shares in his company over the past few days, according to a regulatory filing, bringing his total sales this month to over $6 billion.

On Tuesday and Wednesday, Bezos sold about 12 million Amazon shares at an average price of $169.50 a share.

The sales were executed under a trading plan that went into effect in November. Bezos could ultimately sell up to 50 million shares of Amazon, according to the company’s annual filing. Bezos sold about 12 million shares, worth $2 billion, between Friday and Monday, and sold another 12 million shares the week before that.

The sales this month mark the first time Bezos has sold Amazon stock since May 2021, the year he stepped down as Amazon CEO, although he gifted about $240 million in Amazon shares last year.

In November, Bezos said he would leave Seattle and move to Miami, allowing him to be closer to his space exploration company Blue Origin, as well as to the family of fiancée Lauren Sanchez’s family. The move will also potentially save him hundreds of millions of dollars in taxes on the share sales.

Bezos is currently the world’s third-wealthiest person, with a net worth of $191.4 billion, according to Forbes. His Amazon holdings have dipped to 952.26 million shares from 976.25 million shares after his February sales.

— CNBC’s Annie Palmer contributed to this report.

WATCH: Jeff Bezos sells $2 billion of Amazon shares

Jeff Bezos sells $2 billion of Amazon shares


Source link