Amazon founder Jeff Bezos has once again liquidated a substantial portion of his Amazon stock, this time amounting to a staggering $2.03 billion. This marks the third occasion within the span of a single month that Bezos has opted to sell off a significant chunk of his shares in the e-commerce giant.
February Sales Skyrocket to $6 Billion
The flurry of stock sales is occurring against the backdrop of Amazon’s total sales for February, which have already soared to an impressive $6 billion. Documents scrutinized by CNBC reveal that Bezos has been involved in the sale of approximately $2.03 billion worth of Amazon stocks in the past few days alone, contributing to the remarkable monthly total.
Strategic Trading Plan Unfolds
Bezos’s recent stock sales fall in line with a meticulously crafted trading plan implemented by the company back in November. The plan allows the billionaire entrepreneur to potentially divest up to 50 million shares of Amazon stock, with the latest $2 billion sell-off encompassing around 12 million shares—a figure identical to his previous transaction a mere week earlier.
February’s First Stock Sale Since 2021
This substantial sell-off in February represents Bezos’s first venture into divesting Amazon stocks since May 2021, coinciding with his decision to step down as the CEO of the tech behemoth. The move comes amid a period of transition for Bezos, who has previously expressed intentions to relocate from Seattle to Miami.
Tax Savings and Lifestyle Shifts
Last November, Bezos revealed plans to move to Miami, citing proximity to his space exploration company Blue Origin and the family of his fiancée Lauren Sanchez as key factors. The strategic move is also expected to yield substantial tax savings for Bezos, amounting to hundreds of millions of dollars on stock sales.
Bezos Ranks Third on Forbes’ Wealth List
Despite the sizable stock sell-offs, Jeff Bezos remains a financial force to be reckoned with. Forbes currently places him as the third richest person globally, boasting a formidable fortune of $191.4 billion. Ahead of him are Bernard Arnault with $223.1 billion and Elon Musk with $205.5 billion, securing the first and second positions on the prestigious list.
As the world closely watches Jeff Bezos’s financial maneuvers, the entrepreneur continues to make headlines not just for his business acumen but also for the strategic decisions that shape his vast wealth.
Source: CNBC