HomeNewsJeff Bezos divests $2 Billion worth of Amazon shares as part of...

Jeff Bezos divests $2 Billion worth of Amazon shares as part of planned sell-off strategy

Amazon Founder Jeff Bezos recently divested approximately 12 million shares of the renowned online retail and cloud services company for an estimated $2 billion, as disclosed in a company filing on Friday. This transaction closely follows his announcement of a strategic plan to gradually sell off his shares over the upcoming year.

According to the filings, the sale occurred on both Wednesday and Thursday.

Last week, Amazon announced that Bezos would divest up to 50 million shares in the company.

Continue Exploring: Amazon Founder Jeff Bezos to sell 50 Million shares by January 31 next year

According to the company’s most recent annual report, the sale plan, contingent upon specific conditions, was initiated on November 8, 2023, and is scheduled for completion by January 31, 2025.

Having transitioned from his role as the company’s chief executive to executive chairman in 2021, Bezos established Amazon as a bookseller back in 1994.

As per the Bloomberg Billionaires Index, he presently holds the position of the world’s second wealthiest individual, boasting a net worth of $200 billion.

Continue Exploring: Amazon retains top spot as MSMEs’ preferred platform, reveals ISF Report

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