Jeff Bezos, the founder of Amazon, has sold approximately 12 million shares of the online shopping company for around $2 billion. This is the first time Bezos has sold Amazon shares since 2021 and comes at a time when the share price has recently reached its highest peak since November 2021.
Bezos’ decision to sell his shares was not disclosed by the company, but it appears to be opportune as Amazon announced plans to sell a total of 50 million shares. These sales will take place in stages according to a sales plan and are expected to be finalized by January 2025. The sale of these 50 million shares will amount to approximately $8.5 billion.
The rise in Amazon’s stock price at the beginning of the year has led to an increase in Bezos’ net worth by over $22 billion this year. Meanwhile, Elon Musk’s wealth has decreased due to a drop in Tesla’s stock, but with the sales plan, Bezos may once again overtake Musk as the world’s richest person.
According to Bloomberg’s billionaire index, Musk’s wealth amounts to $209 billion and Bezos’s wealth is $200 billion, while Bernard Arnault, the Managing Director of LVMH, has a net worth of $191 billion and is currently ranked third on the list.