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Jeff Bezos sells $2 billion in Amazon shares

Jeff Bezos sells $2 billion in Amazon shares

Businessman Jeff Bezos, founder of amazon, has sold about 12 million shares of the company at a price of between US$168 and US$171 per share, according to documents sent to stock market regulators on Friday. This waythe total value of the shares sold exceeds US$2,040 million, distributed in five blocks.

According to the AFP agency, a past stock exchange document, which was released on Wednesday, February 7, reported Bezos’ intention to sell 50 million shares of the group by July of this year.

Bezos’ fortune is estimated by Forbes at US$195.5 billionwhich makes him the third richest man on the planet, behind the Frenchman Bernard Arnault, CEO of the LVMH group, and Elon Musk, the head of Tesla, Twitter and SpaceX.

On February 1, Amazon released its financial results, which far exceeded expectations. The tech giant achieved sales of $170 billion last year and net profit of $10.6 billion, driven by faster deliveries and a particularly successful holiday season.

Why would Bezos be selling Amazon shares?

The owner of Amazon, who today is the executive president, has been selling his shares as part of a plan to finance his aerospace company, Blue Origin. Bezos said he was looking to sell shares worth approximately $1 billion each year to fund Blue Origin. In this way, the recent sale for more than US$2,000 million would be in line with this plan, according to TyN magazine.

Source: Larepublica

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