Jeff Bezos sells further tranche of Amazon shares worth around $2.4 billion
Investing.com | Author Scott Kanowsky
Published Feb 21, 2024 04:39AM ET
Investing.com -- Jeff Bezos has sold a further chunk of shares in Amazon (NASDAQ:AMZN), a filing with the U.S. Securities and Exchange Commission showed on Tuesday, capping off in days a planned offload of up to 50 million shares in the e-commerce titan.
Bezos -- Amazon's founder and now its executive chairman -- sold 14 million in Amazon stock that was worth roughly $2.4 billion over three trading days ending on Tuesday, the filing showed.
Last week, Bezos unloaded roughly 12 million Amazon shares valued at approximately $2.03 billion. Days before, he had also sold another 12 million share tranche, as well as a further 12 million shares earlier this month. Prior to these moves, Bezos had not sold stock in Amazon since 2021.
Following the latest transaction, Bezos has now netted $8.5 billion from the string of stake sales. Amazon had previously announced that the billionaire could unload up to 50 million shares in the firm by Jan. 31, 2025.
Bezos, the world's third-richest person according to Forbes, has yet to say what he will do with the proceeds from the sales.
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