Jeff Bezos, the founder of Amazon, has been consistently selling shares of the company this year as its stock price continues to reach record highs. In a recent filing with the SEC, Bezos announced his intention to sell 25 million shares, amounting to approximately $5 billion at current prices. The stock hit a record high of $200.40 on July 3 and closed at $197.
Despite selling a significant amount of shares, Bezos still retains ownership of 8.8% of outstanding shares, equivalent to 912 million units. The surge in Amazon’s stock price has been driven by strong earnings, with operating profit increasing over 200% and revenue rising 13% year-over-year in the first quarter.
Bezos has been selling Amazon stock at a rapid pace this year, earning over $8 billion in just a few weeks in February. In total, he has sold over $30 billion worth of shares since 2002, with $20 billion sold in 2020 and 2021 alone. These sales have funded various projects, including his aerospace company Blue Origin and the purchase of a $500 million superyacht.
Bezos is currently the second richest person in the world, behind Elon Musk, with a fortune of $214.4 billion. Despite his enormous wealth, Bezos continues to invest in ambitious projects like space exploration and sustainable energy. His actions and investments have had a significant impact on the tech industry and global economy.
In conclusion, Bezos’ strategic selling of Amazon shares reflects his forward-thinking approach to financial planning and investment. His ability to generate wealth and reinvest it into cutting-edge projects demonstrates his visionary leadership and commitment to innovation.
