Bezos sells Amazon stock for the first time this year, cashing out $350 million
Complete. Here is the key summaryAs Amazon's stock price hits a record high, founder Jeff Bezos has sold shares for the first time this year, cashing out nearly $350 million. The transaction was disclosed through a Form 4 filing and represents only a small portion of his previously announced plan to sell up to 15 million shares (worth over $4 billion). Despite the sale, Bezos still holds 8.16% of the shares, making him Amazon's largest shareholder
As Amazon's stock price reached a record high on Monday, Jeff Bezos sold nearly $350 million worth of Amazon shares, marking his first sale of the company's stock this year.
The transaction was disclosed in a Form 4 filing released after the market closed on Wednesday. The billionaire indicated two days earlier in another filing that he planned to sell up to 15 million shares of Amazon stock, valued at over $4 billion, with this sale representing only a small portion of that plan.
Jeff Bezos
According to the Bloomberg Billionaires Index, as Amazon's stock price has risen 18% this year, Bezos's wealth has increased by $38.7 billion, reaching $292 billion. Following a strong performance in its cloud computing business reported last week, Amazon recently became the fifth company to surpass a market capitalization of $3 trillion.
Even after this sale, Bezos remains the largest shareholder of Amazon with an 8.16% ownership stake.
The 62-year-old Bezos has accelerated his sale of Amazon stock in recent years. Since 2020 alone, he has sold shares worth over $38 billion. In contrast, from Amazon's initial public offering in 1997 until 2020, he sold less than $10 billion in stock