Amazon founder Jeff Bezos has reportedly sold approximately $2.03 billion worth of Amazon stock over the past few days, marking the third significant liquidation this month. This comes as total sales for February have already reached an impressive $6 billion.
According to documents scrutinized by CNBC, Bezos executed the sales on Tuesday and Wednesday, offloading about $12 million worth of shares at an average price of $169.50 each. Notably, this divestment aligns with the trading plan implemented by the company in November, allowing the billionaire to potentially sell up to 50 million shares. The recent $2 billion transaction covers approximately 12 million shares, mirroring the quantity he sold just a week earlier.
This February sale represents a notable financial move for Bezos, as it marks his first stock sale since May 2021, coinciding with his decision to step down as the CEO of Amazon. However, it’s crucial to highlight that Bezos has been executing these sales within the parameters of the established trading plan, indicating a strategic and calculated approach to managing his vast Amazon holdings.
In a broader context, Bezos had announced his intention to relocate from Seattle to Miami back in November, citing proximity to his space venture, Blue Origin, and the residence of his fiancée Lauren Sanchez. Importantly, this move also comes with significant tax advantages, potentially saving him hundreds of millions of dollars in taxes on stock sales.
As of now, Jeff Bezos occupies the third position on Forbes’ list of the world’s richest people, boasting a fortune of $191.4 billion. Ahead of him are Bernard Arnault with $223.1 billion and Elon Musk with $205.5 billion, taking first and second place, respectively.
This strategic move by Bezos raises questions about his financial foresight and the potential implications for both his personal wealth and the trajectory of Amazon’s stock value. As the e-commerce giant continues to navigate the ever-evolving landscape of online retail, Bezos’s financial decisions will undoubtedly be closely watched by investors and industry analysts alike.
Source: CNBC