24hoursworld

Jeff Bezos cut stake in Amazon and sold after shares hit record high

Jeff Bezos cut stake in Amazon and sold after shares hit record high
Jeff Bezos cut stake in Amazon and sold after shares hit record high

The notice was filed after the market closed on Tuesday. So far this year, sales have reached $13.5 billion, according to Bloomberg.

NA

Jeff Bezos revealed a plan to dispose of an additional 25 million shares of Amazon.com Inc. worth US$5 billion on the day the action hit a new record. The notification was filed after the market closed on Tuesday.

Bezos sold about $8.5 billion worth of stock over nine trading days in February, the first time he had disposed of the company’s shares since 2021. Additional sales would raise the total this year to approximately US$13,500. million, according to calculations by the Bloomberg Billionaires Index.

After the last sale, Bezos would still own almost 912 million sharesor about 8.8% of Amazon. He is the world’s second-richest person with a net worth of $221.6 billion, according to the Bloomberg Wealth Index, and also owns space exploration company Blue Origin and the Washington Post. An Amazon spokesman declined to comment on the latest sales.

amazon (1).png

Jeff Bezos cut stake in his own company. What motivated this move?

Jeff Bezos cut stake in his own company. What motivated this move?

The Amazon shares They touched their highest level since its IPO in 1997The company’s shares have soared 32% this year and its cloud business is expected to benefit from the growth of generative artificial intelligence technology.

Who is Jeff Bezos

Jeff Bezos He is a former computer engineer who worked on Wall Street and created Amazon in 1994 to sell books online. After an initial public offering in 1997, Amazon’s stock rose nearly 40-fold, boosting his personal fortune.

According to Bloomberg data, Jeff Bezos has a fortune of US$153 billion. Of that total amount, US$130 billion is explained by his Amazon shares; Then he has $13.2 billion in cash and other assets; $11.2 billion in Blue Origin stock; $500 million is the cost of his Koru yacht; and about $250 million in Washington Post stock.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts