Jeff Bezos, Amazon’s founder and the world’s third-richest person, sold $2 billion worth of Amazon stock on Wednesday and Thursday.
This sale comes after more than two years since Bezos last sold any shares and after he registered to vote in tax-friendly Florida and moved to Miami.
Bezos, with a net worth of $191 billion, remains Amazon’s chairman and its largest individual shareholder, holding 9.4% of the stock.
The sold shares amount to a bit over 1% of his 976 million shares in the e-commerce and cloud computing company.
Amazon’s share price reached a two-year high at the time of the sale, surpassing its value when Bezos last sold shares.
In November, Bezos filed a trading plan to sell 50 million shares, over 5% of his shareholding, by January 31, 2025.
According to a filing from Wednesday, the “approximate transaction date” for selling all 50 million shares was February 7.
It’s possible that additional sales occurred on February 8 and 9, with new filings expected next week.
Since Amazon’s 1997 IPO, Bezos has given away $4.7 billion in Amazon shares and sold $32 billion of the company’s stock.
These transactions reduced his ownership stake from 42% to the current 9.4%.
Bezos’ ex-wife, MacKenzie Scott, received a quarter of his Amazon stake in their 2019 divorce.
Scott has similarly decreased her Amazon stake, selling 61 million shares worth $10 billion in 2023.
These shares are still listed under Bezos’ name in Amazon filings.
Representatives for Bezos have not commented on the stock sale’s purpose or if it relates to his move to Florida.
Bezos has, in the past, invested cash from Amazon stock sales into his space company, Blue Origin.
Analysts estimate Bezos has invested nearly $11 billion in Blue Origin as of mid-2023.
Bezos has increased his philanthropic efforts, donating around half a billion dollars in 2023.
Donations went primarily to climate initiatives through his Bezos Earth Fund (about $200 million) and families experiencing homelessness ($120 million).
Bezos has expanded his real estate holdings in recent years.
Notable purchases include two homes in Indian Creek, Florida, for a combined $150 million, and a $78 million home in Maui in 2021.
He also made headlines for buying Beverly Hills’ nine-acre Warner Estate for $165 million, reportedly the largest private residence sale in California at that time.
Jeff Bezos’ sale of $2 billion in Amazon shares raises questions about his plans and investment strategies.
The timing, coinciding with his move to Florida, adds intrigue to the reasons behind the stock sale.
Bezos’ continued philanthropy, space ventures, and real estate acquisitions showcase a diversified portfolio outside of Amazon.
As the world watches Bezos’ financial moves, the impact on Amazon and his other ventures remains a topic of interest.