In a strategic maneuver, Jeff Bezos has recently divested 12 million shares of Amazon stock, raking in approximately $2 billion. This move aligns with a plan outlined by the company earlier in February, wherein Bezos intends to sell off a total of 50 million shares by year’s end, valued at around $8.5 billion in total.
As of December 2023, Bezos owned 988 million shares, representing just under 10% of Amazon and amounting to a staggering $168 billion. However, the surge in Amazon’s stock value this year has propelled Bezos to the second position on the world’s richest people list, with his estimated wealth skyrocketing to $200 billion.
Bezos’ recent stock sale marks a notable event, representing his first major divestment since 2021, when he sold $2.5 billion worth of shares in preparation for stepping down as CEO. With past instances of significant stock sales in 2020 and 2019, Bezos demonstrates strategic financial management as he navigates the evolving landscape of his wealth and Amazon’s market dynamics.
While the exact motive behind Bezos’ decision to offload shares remains undisclosed, this substantial sale narrows the gap between his net worth and that of Elon Musk, positioning Bezos for a potential ascent to reclaiming the title of the world’s wealthiest individual.
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