Bezos sells $2B worth of Amazon shares in latest transaction
Amazon founder Jeff Bezos has sold around $2.03 billion worth of shares in the e-commerce giant over February 14-15. This marks his third stake sale within a month and brings the total sale value to over $6 billion. The latest sale involved about 12 million Amazon shares at an average price of $169.50 each. The stock selling spree by Bezos is his first major sale of shares since 2021.
Bezos's total share sales and remaining holdings
Till date, Bezos has sold 36 million Amazon shares, with 12 million shares sold between February 9 and February 12 and another 12 million in the previous week. The sales have reduced Bezos's ownership in Amazon from 976.25 million shares to 952.26 million shares. Amazon had announced that Bezos intends to sell up to 50 million shares throughout the year. These stake sales are part of Amazon's trading plan, which began in November.
Tech bigwigs cashing in on soaring share prices
Over the past year, Amazon's stock price has soared by 73%, following the overall trend of big tech companies' shares. Other tech leaders, like Facebook co-founder Mark Zuckerberg, have also taken advantage of the recent spike in tech company shares to sell some of their stakes and make significant cash. Last week, Zuckerberg sold $134 million worth of Meta shares, totaling $765 million worth of shares sold since November last year.
