Daisy Watts
Feb 12, 2024
Amazon founder Jeff Bezos speaks during an event about Blue Origin's space exploration plans in Washington, U.S., May 9, 2019. — Reuters
Amazon’s founder Jeff Bezos has sold approximately 12 million shares of the online retail and cloud services company that are worth around $2 billion, as per a company filing on Friday.
As per the filings, Reuters noted, the sale took place on Wednesday and Thursday last week, shortly after an announcement was made by Amazon that Bezos would by selling up to 50 million shares of the firm by January 31, 2025.
The sale plan, which is bound to change on certain conditions, was approved on Nov. 8, 2023, and is set to be completed by Jan. 31, 2025, according to the company's latest annual report.
Read more: Jeff Bezos to sell up to 50 million Amazon shares by Jan 31 next year
Bezos, who founded Amazon as a book retailer in 1994, stepped down as the company's CEO in 2021 and assumed the role of executive chairman. He is currently the world's second wealthiest individual with a net worth of $200 billion, according to Bloomberg Billionaires Index.
Earlier, it was officially announced by the e-commerce giant that founder of Amazon will sell up to 50 million shares of his e-commerce and cloud services firm over the next one year.
Meanwhile, the sale was taking place with a current rate of $171.8 per share with the securities of Amazon which Bezos was willing to put on sale were worth $8.6 billion at the time.
