Amazon’s founder, Jeff Bezos, has unveiled plans to sell up to 50 million shares of the e-commerce and cloud services giant by January 31, 2025, according to a company filing on Friday, as reported by Reuters. The value of these securities amounts to a staggering $8.6 billion at the current share price of $171.8. This strategic move, initiated on November 8 last year, is contingent upon specific conditions outlined in the company’s latest annual report.
Although Bezos stepped down as Amazon’s CEO in 2021, he remains the world’s third-richest person with a net worth of $185 billion. The sale announcement follows Amazon’s impressive performance in the holiday quarter, resulting in an almost 8% surge in Amazon shares. The e-commerce giant reported sales that exceeded expectations, and its cloud business showcased early gains from AI-powered features.
In 2024, Amazon shares experienced an extraordinary surge of over 80%, outpacing the benchmark S&P 500 index. While the sale plan is set to unfold over the next year, it is essential to note that Bezos founded Amazon in 1994 as a humble bookseller. Over the years, he has played a pivotal role in transforming the company into an e-commerce and technology behemoth.
Bezos’s decision to step down as CEO in 2021 marked a significant transition, with him assuming the role of executive chairman. This move allowed for a shift in leadership while ensuring Bezos’s continued involvement in shaping Amazon’s strategic direction. As Bezos charts a course to sell a substantial portion of his Amazon shares, he remains a central figure in the global business landscape. Currently ranked as the world’s third-richest person, Bezos’s net worth stands at an impressive $185 billion, according to the Bloomberg Billionaires Index. The sale of shares, valued at $8.6 billion, signifies a strategic financial move by Bezos and adds a new dimension to his evolving role within the Amazon ecosystem.
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