Jeff Bezos liquidates a portion of Amazon on the stock market for $2 billion
Jeff Bezos, the founder of the American e-commerce giant Amazon, announced in early February 2024 the sale of a substantial portion of his shares on the stock market. This, for a total value exceeding $2 billion. This surprise decision marks a turning point in the company’s history.
A Massive Sale of Amazon Shares
In documents filed with the SEC, Jeff Bezos expressed his intention to sell about 50 million Amazon shares on the stock market! That is, approximately 12% of his holdings. The first transactions, involving nearly 12 million titles, have already been carried out on February 7 and 8, 2024.
These massive sales were made in five blocks of shares, for a total value of more than $2 billion. The entire 50 million shares on the market would be valued at $8.4 billion at the current rate.
Despite this, Jeff Bezos still retains 10% of Amazon’s capital, which is still a considerable stake in the company he founded in his garage 30 years ago. But this partial sale of his shares marks a turning point in the history of the American giant.
The Motivations Behind This Stock Market Sale
This announcement comes three years after Jeff Bezos handed over his role as CEO of Amazon to Andy Jassy in 2021. He had then expressed his desire to spend more time on other projects, such as his space company Blue Origin, and his philanthropic activities through the Bezos Earth Fund.
At 60 years old, the billionaire now intends to devote more time to his space company Blue Origin, as well as to his philanthropic works. His Bezos Earth Fund has become a major player in climate action. The scale of the stock market sales sends a strong signal about his intention to gradually begin. Amazon now seems too narrow for the billionaire’s outsized ambitions.
Some also see this as Jeff Bezos’ desire to diversify his personal wealth. Despite his colossal fortune, estimated at $124 billion, his assets remain 80% concentrated in Amazon.
With this massive sale of stock market shares, Jeff Bezos turns a page in Amazon’s history, while remaining a significant shareholder. The company will have to continue on its path without its emblematic founder at the helm. But it can rely on solid foundations to remain the giant of e-commerce.
Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.