Amazon nasdaq Amzn Founder Jeff Bezos Unloads Another Billion Worth of Company Shares

Amazon (NASDAQ: AMZN) Founder Jeff Bezos Unloads Another $2 Billion Worth of Company Shares

Jeff Bezos has unloaded over $2 billion worth of Amazon (NASDAQ: AMZN) shares for the third time this month.

According to a recent regulatory filing, the founder of Amazon, Jeff Bezos, sold approximately $2.03 billion worth of the company’s shares in the past few days.

On Tuesday and Wednesday alone, Bezos offloaded around 12 million Amazon shares at an average price of $169.50. These sales are part of a trading plan initiated in November, which could see Bezos ultimately offloading up to 50 million shares of Amazon, per the company’s annual filing.

This latest round of sales follows a previous divestment where Bezos sold about 12 million shares valued at $2 billion between Friday and Monday and another 12 million shares the week prior.

This is the first time Jeff Bezos has sold Amazon stock since May 2021, when he stepped down as CEO. However, It’s worth noting that he gifted around $240 million in Amazon shares last year.

In November, Bezos announced his decision to relocate from Seattle to Miami. This relocation would enable him to be nearer to his space exploration company, Blue Origin, and Lauren Sanchez, his fiancée. The relocation could result in him saving hundreds of millions of dollars in taxes on the share sales.

According to Forbes, Bezos presently ranks as the third-richest individual globally, boasting a net worth of $191.4 billion. Following his February sales, his stake in Amazon decreased from 976.25 million shares to 952.26 million.

Amazon (NASDAQ: AMZN) Stock Price Action

AMZN stock declined 0.17% to close at $169.51 on Friday. The traders had exchanged hands with 47,876,490 (47.87 million) shares compared to the average daily trading volume of 48.50 million.