Following Bezos' announcement in November of his intention to sell up to 50 million shares by July of next year, the sale of shares has taken place.
Amazon's founder, Jeff Bezos, has sold approximately $2 billion worth of his company shares. This represents 12 million shares sold at prices ranging from $168 to $171 each. Forbes estimates Bezos' fortune at $195.5 billion, making him the world's third richest man and second richest techie, trailing only Frenchman Bernard Arnault, CEO of the LVMH group, and Elon Musk, CEO of Tesla, X (formerly Twitter), and SpaceX, according to recent filings.
Following Bezos' announcement in November of his intention to sell up to 50 million shares by July of next year, the sale of shares has taken place. Still holding a sizable portion of the company's equity, he serves as executive chairman. His plan was announced in a February 7 stock market document that he intended to sell 50 million shares of the company he founded thirty years ago in July of the following year. He currently serves as executive chairman of the founding group.
The sale follows Amazon's record-breaking financial year. Thanks to quicker deliveries and a prosperous holiday season, the company recently reported $170 billion in sales and $10.6 billion in net profit, exceeding expectations. The following day, Amazon's stock price increased by 13% as a result of this encouraging news.