Jeff Bezos sells $2 billion worth of Amazon stock.

For the first time since 2021, the Amazon founder sold shares of the company, totaling 12 million units.

According to a filing Amazon submitted to the U.S. Securities and Exchange Commission (SEC) a few days ago, founder Jeff Bezos sold 12 million shares of the tech company last week. The value of these shares is over $2 billion. This marks the first time Bezos has sold Amazon stock since 2021.

On February 2nd, Bezos announced plans to sell approximately 50 million shares over the next 12 months. The estimated value of this is around $8.4 billion.

Amazon founder Jeff Bezos at an event in California in March 2023. Photo: AP

Since the beginning of the year, Amazon's stock has risen 16.3%. Over the past year, the stock has increased by 75%. Amazon's stock surged as the company announced better-than-expected fourth-quarter 2023 earnings, driven by the holiday shopping season. Revenue increased 14% to $170 billion, and profits also soared to $10 billion.

This development boosted Bezos's net worth by $22.6 billion this year, to $199.5 billion, according to the Bloomberg Billionaires Index . He is now the world's second richest person, after Tesla CEO Elon Musk. Bezos's wealth primarily comes from his nearly 10% stake in Amazon.

The Amazon founder has sold more than $30 billion worth of Amazon stock since 2002. Of that, he sold approximately $20 billion worth in 2020 and 2021 alone. This has served a variety of purposes, from funding his aerospace company Blue Origin to purchasing the $500 million superyacht Koru.

Bezos is also very active in donating stock to charities and non-profit organizations. He stepped down as Amazon CEO in 2021 to focus more on other projects, such as Blue Origin and philanthropic work.

Ha Thu (according to Reuters, Fortune)

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