Bezos Divests $2 Billion in Amazon Stock, Part of Pre-Planned Sale

SEATTLE, WA (February 11, 2024) - Amazon founder and executive chairman Jeff Bezos has sold approximately $2 billion worth of company stock, marking the first major sale since stepping down as CEO in 2021. The transaction, disclosed in a filing with the U.S. Securities and Exchange Commission, involved nearly 12 million shares sold at prices ranging from $169.71 to $171.02 per share.

This divestiture aligns with a pre-established trading plan announced by Amazon last week, authorizing Bezos to sell up to 50 million shares over the next year. The plan, subject to specific conditions, aims to be completed by January 31, 2025.

Bezos remains Amazon's largest individual shareholder, despite this recent sale. His motivations for the divestiture remain unclear, with speculation ranging from personal financial diversification to funding philanthropic ventures.

This news is likely to impact Amazon's stock price in the short term, with analysts closely monitoring the remaining planned sales and potential implications for the company's future direction.