Bezos sells more Amazon shares, cashing in $3B this time
Amazon founder Jeff Bezos has sold more than $3 billion worth of shares of his company. The latest sale involved over 16 million shares and came as Amazon's stock price approached $200 per share. The exact reasons behind Bezos's continued divestment from Amazon remain unknown. However, despite the sales, he continues to be one of the richest people on the planet with a net worth of $222 billion.
Bezos's total stock sales surpass $13 billion in 2024
With the recent sale of Amazon shares, Bezos's total stock sales for this year have now exceeded $13 billion. The divestment also came at a time when Amazon achieved a major milestone, with its share price nearing a level it last touched in July when Bezos made another major stock sale. Despite these transactions, Bezos still holds a major stake in the company and remains its chairman.
Amazon's stock price surge boosts Bezos's wealth
The recent surge in Amazon's stock price has played a major role in boosting Bezos's wealth. According to the Bloomberg Billionaires Index, he now ranks as the world's second-richest person, only behind Tesla and SpaceX CEO Elon Musk ($262 billion). Bezos's wealth has increased by $42.8 billion year-on-year, primarily due to Amazon's strong stock performance.
Bezos's philanthropic initiatives and space venture
In the past, Bezos has used proceeds from his Amazon stock sales to fund several projects and initiatives. These include his space venture, Blue Origin, and the $2 billion Bezos Day One Fund supporting homeless families and preschool education. Even as he continues to divest from Amazon, Bezos still plays a major role in the company as its chairman with his primary focus now on Blue Origin.
