IMPORTANT POINTS:
- Jeff Bezos has sold more than 14 million Amazon shares, valued at approximately $2.4 billion, bringing the total to 50 million shares sold since the beginning of the month.
- These sales are made under a pre-established trading plan that allows Bezos to sell up to 50 million shares before January 31, 2025.
- The acceleration in stock sales coincides with Bezos’ announcement to move from Seattle to Miami, bringing him closer to his fiancée, his parents and Blue Origin’s operations.
Jeff Bezos, founder and executive president of Amazon, has launched an intense cycle of sales of shares of his own company, exceeding 14 million shares sold with an approximate value of 2.4 billion dollars. This move brings the total shares sold since the beginning of the month to 50 million, marking a significant milestone in the tech mogul’s financial transactions.
Transaction Details
The sales, which began late last week and continued through Tuesday, are detailed in a report to the Securities and Exchange Commission. According to this document, Bezos divested exactly 14,006,906 Amazon shares, accumulating nearly $2.37 billion. These trades are part of a pre-arranged trading plan that Bezos adopted in November and revealed earlier this month, allowing him to sell up to 50 million Amazon shares by January 31, 2025.
A Recurring Sales Pattern
This sales series is not an isolated event. Bezos sold about 12 million shares, valued at approximately $2.03 billion, last week. This transaction was closely followed by similar sales in the previous weeks, maintaining a constant pace of divestment. Until these recent transactions, Bezos had not sold Amazon shares since May 2021, the year he left his position as CEO of the company. Additionally, last year, Bezos donated Amazon stock worth about $240 million.
Personal and Professional Changes
The acceleration in Bezos’ stock sales coincides with his announcement of a move from Seattle to Miami last November. This move not only brings him closer to his fiancée, Lauren Sanchez, and her parents, but also facilitates his involvement in Blue Origin’s operations. This move appears to have marked a new chapter in both his personal and professional life, reflected in his recent financial activities with Amazon stock.
