Bezos sold 12 million shares of the e-commerce company that he founded as an online bookseller in 1994 as part of a broader plan to sell 50 million Amazon shares worth nearly $9 billion U.S. over the next year.
The stock sale plan was adopted in November 2023 and needs to be completed by Jan. 31, 2025, according to Amazon’s most recent annual report.
Bezos stepped down as Amazon’s chief executive officer (CEO) in 2021, though he remains executive chairman of the company’s board of directors.
Bezos is currently the world’s second richest person with an estimated net worth of $200 billion U.S., almost all of which is comprised of Amazon stock.
After the latest sale, Bezos continues to own 976 million Amazon shares. He last sold the company’s stock in November 2021 just before equities entered a bear market.
The stock of Amazon has risen 75% over the past 12 months and currently trades at $174.45 U.S. per share.