Amazon Founder Jeff Bezos Sells Billions in Stock
Amazon founder Jeff Bezos recently made headlines by selling a large amount of his stock in the company. Over three trading days last week, Mr. Bezos sold 12 million shares of Amazon (AMZN), which are worth about $2 billion. This is a significant move, as it's the first time he has sold Amazon stock since 2021. This sale wasn't a surprise market reaction, but rather part of a plan he had previously set up. In November, Amazon disclosed that Mr. Bezos had adopted a pre-arranged trading plan allowing him to sell up to 50 million shares by the end of January 2025. This recent sale is the first step under that plan. The timing of the sale follows a strong period for Amazon. The company recently reported better-than-expected earnings, and the stock price has performed well, rising nearly 80% over the past year. As one of the world's wealthiest people, Mr. Bezos's stock movements are often watched closely by investors for insights, though pre-planned sales like this are often for personal financial management rather than a reaction to company performance.
