Jeff Bezos plans to sell 50 million Amazon shares over next year
In a move that has captured market attention, Amazon’s founder Jeff Bezos is set to offload a significant portion of his company shares over the next year. Reports from various media outlets indicate Bezos’ intention to divest at least 50 million shares of the e-commerce giant.
The disclosure came through a filing with the US Securities and Exchange Commission (SEC), where Amazon revealed Bezos’ trading plan. As the executive chair of the company, Bezos’ move signals a strategic adjustment in his investment portfolio. The plan outlines the potential sale of up to 50 million shares by January 25 of the following year, subject to specific conditions.
While Bezos, who recently marked his 60th birthday, retains a vast holding of nearly one billion Amazon shares, this divestment plan represents a substantial reduction in his stake. Additionally, the filing reveals that seven other top executives at Amazon have formulated similar trading plans to sell shares.
Bezos’ shareholding in Amazon is a cornerstone of his considerable personal wealth, currently estimated at $193.3 billion. The planned divestment underscores a deliberate repositioning of assets by one of the world’s wealthiest individuals.
Amazon’s financial performance remains robust, with impressive figures reported for the holiday quarter ending December 31, 2023. The company saw a 14% increase in net sales, reaching $170 billion compared to $149.2 billion in the same period of the previous year. Net income also surged to $10.6 billion in Q4 2023, compared to $0.3 billion in Q4 2022. Notably, the Amazon Web Services (AWS) segment reported a 13% year-over-year increase in sales, totaling $24.2 billion.
CEO Andy Jassy commented on the exceptional performance, describing the holiday season as “record-breaking.” Jassy expressed optimism for the company’s trajectory in 2024, highlighting ongoing efforts and forthcoming opportunities.
As Bezos prepares to execute his share sale plan, the market will closely monitor its impact on both Amazon’s stock value and Bezos’ personal financial landscape.
