Jeff Bezos sells about $2B worth of Amazon shares

Amazon.com founder Jeff Bezos has sold around 12M shares of the online retail and cloud services firm for roughly $2B, according to a company filing, soon after laying out a plan to sell his shares over the next year.

The sale took place on Wednesday and Thursday, the filings showed.

Last week, Amazon said that Bezos would sell up to 50M shares in the firm.

The sale plan, which is subject to certain conditions, was adopted on Nov. 8, 2023, and would be completed by Jan. 31, 2025, according to the company's latest annual report.

Amazon sales surge

Amazon shares ended nearly 8 percent higher last week, after the e-commerce heavyweight reported higher-than-expected sales for the holiday quarter and its lucrative cloud business signaled early gains from AI-powered features.

They had surged more than 80 percent last year amid a broader rally in tech stocks and outperformed the benchmark S&P 500 index .

Bezos, who stepped down as the company's chief executive and took over as executive chairman in 2021, founded Amazon as a bookseller in 1994.

He is currently the world's second richest person with a net worth of $200 billion, according to Bloomberg Billionaires Index.

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Source: TRT