Jeff Bezos sells $2.7 billion of Amazon shares in first major stock sale since 2021

SAN FRANCISCO – Jeff Bezos unloaded 12 million shares of this week, the first time the billionaire has sold the company’s stock since 2021.

The sales took place on Feb 7 and 8 and netted just over US$2 billion (S$2.7 billion), according to a filing.

Amazon disclosed on Feb 2 that Bezos plans to sell as many as 50 million shares of Amazon over the next 12 months, potentially cashing in on a stock surge that’s put him within reach of becoming the world’s richest person. His fortune has climbed US$22.6 billion this year to US$199.5 billion as of Feb 9, according to the Bloomberg Billionaires Index.

The Amazon founder has sold over US$30 billion in shares since records going back to 2002, including about US$20 billion combined in 2020 and 2021. He has primarily been gifting stock, including shares worth roughly US$230 million that were given to nonprofit organisations in November.

Amazon, through a spokesperson, declined to comment. BLOOMBERG

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