Jeff Bezos Offloads Amazon Shares Valued at $666 Million, Part of 25 Million Share Sell-Off Plan
The renowned founder of Amazon, Jeff Bezos, has divested approximately 3 million shares of Amazon stock, equating to a sum of $665.8 million, over a two-day period in July, as per a regulatory submission disclosed on Tuesday.
This transaction is a component of a previously announced strategy, which aims to see Bezos selling up to 25 million Amazon shares by May 2026.
Having stepped down as Amazon's Chief Executive Officer in 2021, Bezos had already liquidated $736.7 million worth of shares during the last week of June. His portfolio still contains more than 900 million shares of Amazon, with an estimated value hovering around $200 billion.
This most recent sale of stock coincides with Bezos' opulent $50 million wedding to Lauren Sanchez in Venice, an event graced by numerous high-profile celebrities such as Ivanka Trump and Jared Kushner, Bill Gates, Oprah Winfrey, a number of Kardashian family members, and Leonardo DiCaprio.
Despite these substantial sell-offs, Bezos remains Amazon's largest individual shareholder and continues to serve as the chairman of the company.
Leave a Reply