Bezos Plans to Sell $8.6B Worth of Amazon Stock
In a move that could shake up the market, Amazon’s founder Jeff Bezos is eyeing a massive stock sale. According to a regulatory filing, Bezos intends to cash out up to 50 million shares of Amazon over the next year, valued at nearly $8.6 billion.
This news comes hot on the heels of Amazon’s stellar holiday shopping quarter, which saw shares surge by 8%. Bezos, who stepped down as CEO in 2021, still holds sway as the chair of the board.
While Bezos has been busy with fashion, romance, and space exploration, his decision to sell such a large chunk of Amazon stock could signal strategic planning or simply capitalizing on the stock’s recent surge.
What’s interesting is Bezos’ timing – with Amazon’s stock rallying significantly since 2022, this could be an opportune moment for him to cash in, especially considering potential tax benefits from his recent move to Florida.
Credit: CNN
https://edition.cnn.com/2024/02/02/tech/jeff-bezos-cash-out-billions-amazon-stock/index.html